Cryoport, Inc. (NASDAQ:CYRX) Short Interest Up 7.2% in October

Cryoport, Inc. (NASDAQ:CYRX) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 2,820,000 shares, an increase of 7.2% from the September 30th total of 2,630,000 shares. Currently, 5.9% of the shares of the company are sold short. Based on an average daily trading volume, of 552,200 shares, the days-to-cover ratio is currently 5.1 days.

Cryoport Stock Performance

CYRX stock opened at $6.66 on Friday. 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 capitalization of $329.07 million, a price-to-earnings ratio of -1.81 and a beta of 1.60. Cryoport has a 12 month low of $5.32 and a 12 month high of $20.10. The firm has a 50 day moving average of $7.91 and a two-hundred day moving average of $9.69.

Cryoport (NASDAQ:CYRX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($1.62) earnings per share 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 analyst estimates of $57.65 million. Cryoport had a negative return on equity of 15.55% and a negative net margin of 76.48%. Cryoport’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. As a group, equities analysts anticipate that Cryoport will post -1.65 EPS for the current fiscal 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 shares. This repurchase authorization allows the company to reacquire up to 49.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CYRX shares. Jefferies Financial Group downgraded shares of Cryoport from a “buy” rating to a “hold” rating and reduced their price target for the stock from $20.00 to $8.00 in a research report on Wednesday, August 7th. B. Riley raised shares of Cryoport from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $19.00 to $15.00 in a research note on Wednesday, July 31st. Needham & Company LLC decreased 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. Finally, UBS Group raised their target price on shares of Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Cryoport has a consensus rating of “Hold” and a consensus price target of $12.00.

Hedge Funds Weigh In On Cryoport

A number of hedge funds have recently made changes to their positions in the business. AXA S.A. grew its holdings in shares of Cryoport by 274.2% in the 2nd quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after purchasing an additional 639,855 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Cryoport by 155.9% during the 1st quarter. BNP Paribas Financial Markets now owns 82,653 shares of the company’s stock worth $1,463,000 after acquiring an additional 50,355 shares during the last quarter. Federated Hermes Inc. bought a new stake in Cryoport during the 2nd quarter worth about $774,000. Assenagon Asset Management S.A. lifted its position in 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 purchasing an additional 511,064 shares during the period. Finally, Inspire Investing LLC acquired a new position in Cryoport during the 1st quarter valued at about $358,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

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.