Federated Hermes Inc. Takes Position in Cryoport, Inc. (NASDAQ:CYRX)

Federated Hermes Inc. purchased a new position in Cryoport, Inc. (NASDAQ:CYRX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 112,030 shares of the company’s stock, valued at approximately $774,000. Federated Hermes Inc. owned about 0.23% of Cryoport as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Comerica Bank boosted its stake in Cryoport by 73.0% in the first quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after acquiring an additional 1,469 shares during the last quarter. Natixis Investment Managers International lifted its stake in Cryoport by 61.5% in the fourth quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock valued at $70,000 after purchasing an additional 1,727 shares during the last quarter. Quest Partners LLC lifted its stake in Cryoport by 1,083,000.0% in the second quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock valued at $75,000 after purchasing an additional 10,830 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Cryoport by 294.3% during the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock valued at $95,000 after purchasing an additional 4,014 shares during the period. Finally, NRI Wealth Management LC purchased a new stake in Cryoport in the second quarter worth $132,000. Institutional investors own 92.90% of the company’s stock.

Insider Buying and Selling at Cryoport

In other news, Director Ramkumar Mandalam sold 4,167 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.04, for a total value of $33,502.68. Following the transaction, the director now owns 56,032 shares of the company’s stock, valued at $450,497.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 7,167 shares of company stock valued at $60,363 in the last three months. Company insiders own 10.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CYRX shares. B. Riley upgraded Cryoport from a “neutral” rating to a “buy” rating and cut their price target for the stock from $19.00 to $15.00 in a research note on Wednesday, July 31st. Needham & Company LLC cut their target price on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. UBS Group reduced 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. Finally, Jefferies Financial Group cut 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 note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.60.

Cryoport Stock Down 2.5 %

Shares of NASDAQ CYRX opened at $8.51 on Monday. 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 company has a market cap of $419.18 million, a P/E 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. The business has a 50-day simple moving average of $8.55 and a two-hundred day simple moving average of $11.56.

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

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

About Cryoport

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.