Inspire Investing LLC Purchases 31,092 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Inspire Investing LLC raised its position in shares of Cryoport, Inc. (NASDAQ:CYRX) by 153.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,315 shares of the company’s stock after purchasing an additional 31,092 shares during the quarter. Inspire Investing LLC owned 0.10% of Cryoport worth $355,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Cadian Capital Management LP grew its stake in shares of Cryoport by 30.4% during the 4th quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company’s stock valued at $53,659,000 after purchasing an additional 807,340 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Cryoport by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,035,586 shares of the company’s stock valued at $14,066,000 after buying an additional 52,103 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Cryoport by 52.9% during 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 buying an additional 511,064 shares in the last quarter. Thematics Asset Management lifted its position in shares of Cryoport by 19.5% during the 4th quarter. Thematics Asset Management now owns 749,000 shares of the company’s stock valued at $11,602,000 after buying an additional 122,000 shares in the last quarter. Finally, WCM Investment Management LLC lifted its position in shares of Cryoport by 41.8% during the 1st quarter. WCM Investment Management LLC now owns 459,492 shares of the company’s stock valued at $8,133,000 after buying an additional 135,401 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors.

Cryoport Stock Down 2.5 %

NASDAQ CYRX opened at $8.51 on Friday. The stock’s 50 day moving average is $8.55 and its 200 day moving average is $11.60. The company has a current ratio of 8.38, a quick ratio of 7.99 and a debt-to-equity ratio of 0.97. Cryoport, Inc. has a 12 month low of $5.32 and a 12 month high of $20.10. The stock has a market cap of $419.18 million, a PE ratio of -3.45 and a beta of 1.60.

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

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CYRX shares. Jefferies Financial Group cut Cryoport from a “buy” rating to a “hold” rating and lowered their price objective for the company from $20.00 to $8.00 in a research report on Wednesday, August 7th. Needham & Company LLC lowered their price objective on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. UBS Group lowered their price objective on Cryoport from $17.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, B. Riley raised Cryoport from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.60.

Insider Transactions at Cryoport

In other 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 transaction of $33,502.68. Following the completion of the transaction, the director now directly owns 56,032 shares in the company, valued at approximately $450,497.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 7,167 shares of company stock valued at $60,363 in the last ninety days. Corporate insiders own 10.10% of the company’s stock.

Cryoport 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.