Dimensional Fund Advisors LP Sells 144,340 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Dimensional Fund Advisors LP lessened its holdings in Cryoport, Inc. (NASDAQ:CYRX) by 15.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 790,866 shares of the company’s stock after selling 144,340 shares during the quarter. Dimensional Fund Advisors LP owned 1.61% of Cryoport worth $5,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CYRX. Massachusetts Financial Services Co. MA boosted its stake in Cryoport by 2.6% in the second 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. Federated Hermes Inc. bought a new stake in shares of Cryoport during the 2nd quarter valued at approximately $774,000. NRI Wealth Management LC acquired a new position in Cryoport during the 2nd quarter worth approximately $132,000. Quest Partners LLC boosted its position 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 buying an additional 10,830 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Cryoport by 3.4% during the second quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock worth $443,000 after buying an additional 2,086 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

Analysts Set New Price Targets

CYRX has been the subject of a number of research reports. B. Riley upgraded Cryoport from a “neutral” rating to a “buy” rating and dropped their price target for the company from $19.00 to $15.00 in a research note on Wednesday, July 31st. Needham & Company LLC dropped their target price on 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 price target on Cryoport from $17.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered shares of Cryoport from a “buy” rating to a “hold” rating and dropped their price objective for the company from $20.00 to $8.00 in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Cryoport has a consensus rating of “Hold” and a consensus target price of $11.60.

Cryoport Trading Down 11.7 %

NASDAQ CYRX opened at $6.96 on Wednesday. The firm has a market capitalization of $342.58 million, a PE ratio of -2.82 and a beta of 1.60. The business’s 50-day moving average price is $8.36 and its two-hundred day moving average price is $10.87. 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.

Cryoport (NASDAQ:CYRX) last announced its earnings results on Tuesday, August 6th. The company reported ($1.62) EPS 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 company had revenue of $57.60 million during the quarter, compared to the consensus estimate of $57.65 million. During the same quarter in the previous year, the company earned ($0.42) earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. On average, analysts expect that Cryoport, Inc. will post -1.63 EPS for the current year.

Cryoport declared that its Board of Directors has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Ramkumar Mandalam sold 4,167 shares of Cryoport stock in a transaction on Friday, August 2nd. The shares were 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 owns 56,032 shares of the company’s stock, valued at $450,497.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 7,167 shares of company stock valued at $60,363. 10.10% of the stock is currently owned by insiders.

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.