Short Interest in Cryoport, Inc. (NASDAQ:CYRX) Drops By 7.8%

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

Cryoport Trading Up 1.3 %

CYRX traded up $0.08 during midday trading on Wednesday, reaching $6.26. 537,846 shares of the company’s stock traded hands, compared to its average volume of 531,893. The stock has a market capitalization of $308.37 million, a price-to-earnings ratio of -2.53 and a beta of 1.59. Cryoport has a 52 week low of $6.07 and a 52 week high of $20.10. The firm has a fifty day moving average of $11.47 and a two-hundred day moving average of $14.52. The company has a debt-to-equity ratio of 0.86, a current ratio of 10.73 and a quick ratio of 10.22.

Cryoport (NASDAQ:CYRX) last announced its earnings results on Tuesday, May 7th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). The business had revenue of $54.59 million for the quarter, compared to the consensus estimate 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 was down 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.16) EPS. On average, equities analysts anticipate that Cryoport will post -1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Cryoport

A number of large investors have recently modified their holdings of CYRX. Cadian Capital Management LP lifted its holdings in Cryoport by 30.4% in the fourth quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company’s stock worth $53,659,000 after buying an additional 807,340 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Cryoport by 46.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,992,895 shares of the company’s stock valued at $30,870,000 after purchasing an additional 636,395 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Cryoport by 285.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,409 shares of the company’s stock valued at $1,061,000 after purchasing an additional 57,348 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Cryoport by 487.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,393,156 shares of the company’s stock valued at $21,580,000 after purchasing an additional 1,156,106 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Cryoport by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 366,031 shares of the company’s stock worth $5,670,000 after purchasing an additional 12,008 shares during the period. Institutional investors own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Cryoport in a report on Wednesday, May 8th. B. Riley lowered Cryoport from a “buy” rating to a “neutral” rating and lowered their target price for the company from $22.00 to $19.00 in a research note on Friday, May 3rd. Stephens restated an “equal weight” rating and set a $17.00 target price on shares of Cryoport in a report on Wednesday, March 13th. UBS Group lifted their price target on Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Finally, Jefferies Financial Group started coverage on Cryoport in a research note on Thursday, April 4th. They set a “buy” rating and a $21.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.25.

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.