Bank of New York Mellon Corp Boosts Stake in Cryoport, Inc. (NASDAQ:CYRX)

Bank of New York Mellon Corp raised its holdings in shares of Cryoport, Inc. (NASDAQ:CYRX) by 13.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,155 shares of the company’s stock after buying an additional 19,803 shares during the period. Bank of New York Mellon Corp owned about 0.34% of Cryoport worth $1,169,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Cadian Capital Management LP grew its stake in Cryoport by 30.4% in the 4th quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company’s stock worth $53,659,000 after acquiring an additional 807,340 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Cryoport during the first quarter worth $2,905,000. BNP Paribas Financial Markets boosted its position in Cryoport by 155.9% during the 1st quarter. BNP Paribas Financial Markets now owns 82,653 shares of the company’s stock valued at $1,463,000 after acquiring an additional 50,355 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Cryoport by 52.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company’s stock valued at $10,211,000 after acquiring an additional 511,064 shares during the period. Finally, Inspire Investing LLC bought a new position in shares of Cryoport in the 1st quarter worth $358,000. Institutional investors own 92.90% of the company’s stock.

Insider Activity at Cryoport

In related news, Director Ramkumar Mandalam sold 4,167 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $8.04, for a total value of $33,502.68. Following the completion of the transaction, the director now directly owns 56,032 shares in the company, valued at $450,497.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 7,167 shares of company stock worth $60,363. Insiders own 10.10% of the company’s stock.

Cryoport Stock Down 2.5 %

NASDAQ CYRX opened at $8.51 on Friday. The business’s fifty day simple moving average is $8.53 and its 200-day simple moving average is $11.70. The company has a quick ratio of 7.99, a current ratio of 8.38 and a debt-to-equity ratio of 0.97. The firm has a market cap of $419.18 million, a PE ratio of -3.45 and a beta of 1.60. Cryoport, Inc. has a 52 week low of $5.32 and a 52 week high of $20.10.

Cryoport (NASDAQ:CYRX) last posted its earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($1.25). Cryoport had a negative net margin of 76.48% and a negative return on equity of 15.55%. The firm had revenue of $57.60 million during the quarter, compared to analyst estimates of $57.65 million. During the same quarter in the previous year, the firm earned ($0.42) earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that Cryoport, Inc. will post -1.63 earnings per share for the current year.

Cryoport declared that its board has approved a share repurchase program on Tuesday, August 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 49.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have commented on the stock. B. Riley raised shares of Cryoport from a “neutral” rating to a “buy” rating and decreased their price target for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. Needham & Company LLC reduced their target price on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group lowered shares of Cryoport from a “buy” rating to a “hold” rating and dropped their price target for the company from $20.00 to $8.00 in a research report on Wednesday, August 7th. Finally, UBS Group cut their target price on shares of Cryoport from $17.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cryoport has a consensus rating of “Hold” and a consensus price target of $11.60.

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.