Cryoport, Inc. (NASDAQ:CYRX) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc trimmed its stake in Cryoport, Inc. (NASDAQ:CYRX) by 89.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 237,375 shares of the company’s stock after selling 1,957,008 shares during the period. Impax Asset Management Group plc owned approximately 0.48% of Cryoport worth $1,925,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Comerica Bank increased its position in Cryoport by 73.0% during the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after purchasing an additional 1,469 shares during the period. Lazard Asset Management LLC boosted its position in Cryoport by 294.3% during the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock worth $95,000 after purchasing an additional 4,014 shares in the last quarter. Quest Partners LLC boosted its position in Cryoport by 1,083,000.0% during the second quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock worth $75,000 after purchasing an additional 10,830 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Cryoport in the second quarter valued at $92,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Cryoport by 27.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,638 shares of the company’s stock valued at $277,000 after buying an additional 3,400 shares in the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

Cryoport Stock Up 6.3 %

CYRX stock opened at $8.15 on Wednesday. Cryoport, Inc. has a fifty-two week low of $5.32 and a fifty-two week high of $20.10. 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 stock has a market cap of $402.71 million, a PE ratio of -2.22 and a beta of 1.63. The firm’s 50-day simple moving average is $7.80 and its 200 day simple moving average is $9.38.

Cryoport (NASDAQ:CYRX) last released its earnings results 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%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.42) earnings per share. As a group, sell-side analysts predict that Cryoport, Inc. will post -1.65 EPS for the current year.

Cryoport announced that its Board of Directors has approved a share buyback program on Tuesday, August 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 49.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CYRX. UBS Group upped their price target on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Jefferies Financial Group lowered shares of Cryoport from a “buy” rating to a “hold” rating and decreased their target price for the stock from $20.00 to $8.00 in a research report on Wednesday, August 7th. B. Riley upgraded Cryoport from a “neutral” rating to a “buy” rating and lowered their price target for the company from $19.00 to $15.00 in a report on Wednesday, July 31st. Finally, Needham & Company LLC cut their target price on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Cryoport currently has an average rating of “Hold” and an average price target of $12.00.

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.