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

Cryoport, Inc. (NASDAQ:CYRX) saw a large increase in short interest in 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. Based on an average daily volume of 552,200 shares, the short-interest ratio is presently 5.1 days. Currently, 5.9% of the company’s shares are sold short.

Cryoport Price Performance

NASDAQ:CYRX opened at $6.66 on Friday. Cryoport has a 1-year low of $5.32 and a 1-year high of $20.10. The company has a current ratio of 8.38, a quick ratio of 7.99 and a debt-to-equity ratio of 0.97. The firm has a fifty day simple moving average of $7.91 and a 200 day simple moving average of $9.69. The stock has a market capitalization of $329.07 million, a PE ratio of -1.81 and a beta of 1.60.

Cryoport (NASDAQ:CYRX) last released its earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share 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 firm had revenue of $57.60 million during the quarter, compared to the consensus estimate of $57.65 million. During the same period in the prior year, the business posted ($0.42) earnings per share. Cryoport’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts expect that Cryoport will post -1.65 EPS for the current fiscal year.

Cryoport declared that its board has authorized a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 49.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CYRX. Needham & Company LLC cut their price target on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group downgraded shares of Cryoport from a “buy” rating to a “hold” rating and dropped their target price for the stock from $20.00 to $8.00 in a report on Wednesday, August 7th. B. Riley upgraded shares of Cryoport from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $19.00 to $15.00 in a report on Wednesday, July 31st. 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

Hedge Funds Weigh In On Cryoport

Hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank boosted its position in Cryoport by 73.0% during the first 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 during the period. 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 during the period. Hsbc Holdings PLC bought a new position in Cryoport during the second quarter worth $92,000. Finally, State Board of Administration of Florida Retirement System boosted its position in Cryoport by 27.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 15,638 shares of the company’s stock worth $277,000 after purchasing an additional 3,400 shares during the period. 92.90% of the stock is owned by institutional investors.

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.