Cryoport, Inc. (NASDAQ:CYRX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in Cryoport, Inc. (NASDAQ:CYRX) by 2.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 135,062 shares of the company’s stock after selling 3,077 shares during the period. Bank of New York Mellon Corp owned 0.27% of Cryoport worth $1,051,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avanza Fonder AB purchased a new position in shares of Cryoport in the fourth quarter worth about $64,000. Dynamic Technology Lab Private Ltd acquired a new stake in Cryoport in the 3rd quarter valued at about $82,000. Intech Investment Management LLC purchased a new position in Cryoport in the 3rd quarter worth approximately $105,000. Olympiad Research LP acquired a new position in shares of Cryoport during the 4th quarter worth approximately $103,000. Finally, NRI Wealth Management LC acquired a new stake in shares of Cryoport in the fourth quarter valued at approximately $149,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Insiders Place Their Bets

In other Cryoport news, CEO Jerrell Shelton sold 4,620 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.29, for a total transaction of $29,059.80. Following the sale, the chief executive officer now directly owns 765,399 shares in the company, valued at $4,814,359.71. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 14,431 shares of company stock worth $80,884 over the last ninety days. Corporate insiders own 10.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Cryoport in a research note on Wednesday, March 5th. Guggenheim initiated coverage on shares of Cryoport in a research report on Thursday, December 19th. They set a “buy” rating and a $11.00 price target on the stock. Finally, UBS Group upgraded shares of Cryoport from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Monday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Cryoport Stock Up 24.8 %

Shares of NASDAQ:CYRX opened at $7.10 on Tuesday. The business has a 50-day moving average price of $6.78 and a 200 day moving average price of $7.36. Cryoport, Inc. has a 12-month low of $4.58 and a 12-month high of $20.11. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $354.36 million, a price-to-earnings ratio of -2.10 and a beta of 1.67.

Cryoport (NASDAQ:CYRX) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). The company had revenue of $59.53 million during the quarter, compared to analysts’ expectations of $58.71 million. Cryoport had a negative net margin of 70.08% and a negative return on equity of 13.35%. During the same period last year, the firm posted ($0.29) earnings per share. Sell-side analysts expect that Cryoport, Inc. will post -0.99 EPS for the current year.

Cryoport Company Profile

Cryoport, Inc provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoport Express Shippers; Cryoport ELITE -80°C Gene Therapy Shipper; Cryoport ELITE Cryosphere Shipper; Cryoport consulting services, including physical, thermal, and shipping qualifications of shipping systems and/or packaging to developing custom packaging solutions; and Cryoport bioservices, such as controlled temperature storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and GMP raw materials storage services.