Cryoport, Inc. (NASDAQ:CYRX) Short Interest Down 7.8% in June

Cryoport, Inc. (NASDAQ:CYRX) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 3,650,000 shares, a decline of 7.8% from the May 31st total of 3,960,000 shares. Approximately 7.7% of the shares of the company are short sold. Based on an average trading volume of 565,900 shares, the days-to-cover ratio is currently 6.4 days.

Analysts Set New Price Targets

CYRX has been the topic of a number of recent analyst reports. UBS Group increased their target price on Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Jefferies Financial Group assumed coverage on shares of Cryoport in a report on Thursday, April 4th. They set a “buy” rating and a $21.00 price objective on the stock. B. Riley cut shares of Cryoport from a “buy” rating to a “neutral” rating and cut their target price for the stock from $22.00 to $19.00 in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Cryoport in a research note on Wednesday, May 8th. Finally, Stephens reiterated an “equal weight” rating and issued a $17.00 price objective on shares of Cryoport in a report on Wednesday, March 13th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.25.

Insider Buying and Selling at Cryoport

In other news, insider Edward J. Zecchini sold 3,443 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $13.37, for a total transaction of $46,032.91. Following the sale, the insider now owns 60,051 shares of the company’s stock, valued at approximately $802,881.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Richard J. Berman sold 8,105 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $13.41, for a total value of $108,688.05. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,341,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Zecchini sold 3,443 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $13.37, for a total value of $46,032.91. Following the completion of the sale, the insider now directly owns 60,051 shares in the company, valued at $802,881.87. The disclosure for this sale can be found here. 10.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its position in Cryoport by 487.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,393,156 shares of the company’s stock worth $21,580,000 after purchasing an additional 1,156,106 shares during the last quarter. Cadian Capital Management LP grew its stake in shares of Cryoport by 30.4% in the 4th quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company’s stock valued at $53,659,000 after buying an additional 807,340 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Cryoport by 46.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,992,895 shares of the company’s stock worth $30,870,000 after buying an additional 636,395 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Cryoport during the 1st quarter valued at approximately $7,800,000. Finally, New York State Common Retirement Fund raised its position in shares of Cryoport by 29.9% during the 4th quarter. New York State Common Retirement Fund now owns 1,642,752 shares of the company’s stock valued at $25,446,000 after buying an additional 378,340 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Cryoport Price Performance

CYRX traded up $0.08 during trading on Wednesday, reaching $6.26. The company’s stock had a trading volume of 537,846 shares, compared to its average volume of 531,893. The company has a market cap of $308.37 million, a price-to-earnings ratio of -2.53 and a beta of 1.59. The firm has a fifty day simple moving average of $11.47 and a two-hundred day simple moving average of $14.52. Cryoport has a 1 year low of $6.07 and a 1 year high of $20.10. The company has a quick ratio of 10.22, a current ratio of 10.73 and a debt-to-equity ratio of 0.86.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.06). The company had revenue of $54.59 million during the quarter, compared to analyst estimates of $58.78 million. Cryoport had a negative net margin of 50.17% and a negative return on equity of 15.19%. Cryoport’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.16) EPS. As a group, analysts anticipate that Cryoport will post -1.34 EPS for the current year.

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.