Cryoport, Inc. (NASDAQ:CYRX) Short Interest Update

Cryoport, Inc. (NASDAQ:CYRX) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 3,600,000 shares, an increase of 13.2% from the June 30th total of 3,180,000 shares. Based on an average daily volume of 755,300 shares, the days-to-cover ratio is currently 4.8 days. Currently, 7.6% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several research analysts have commented on CYRX shares. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Cryoport in a research report on Wednesday, May 8th. Jefferies Financial Group started coverage on shares of Cryoport in a research report on Thursday, April 4th. They issued a “buy” rating and a $21.00 target price for the company. Finally, B. Riley upgraded shares of Cryoport from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $19.00 to $15.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.86.

Insider Activity

In related news, insider Edward J. Zecchini sold 3,443 shares of the stock in a transaction dated 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 $802,881.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Edward J. Zecchini sold 3,443 shares of the stock in a transaction dated 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 $802,881.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard J. Berman sold 8,105 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $13.41, for a total transaction of $108,688.05. Following the sale, the director now owns 100,000 shares in the company, valued at approximately $1,341,000. The disclosure for this sale can be found here. Company insiders own 10.10% of the company’s stock.

Institutional Trading of Cryoport

Several institutional investors and hedge funds have recently added to or reduced their stakes in CYRX. Comerica Bank lifted its stake in Cryoport by 73.0% during the first quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after purchasing an additional 1,469 shares during the last quarter. Natixis Investment Managers International lifted its stake in Cryoport by 61.5% during the fourth quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock valued at $70,000 after purchasing an additional 1,727 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Cryoport by 294.3% during the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock valued at $95,000 after purchasing an additional 4,014 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Cryoport during the second quarter valued at approximately $185,000. Finally, Quest Partners LLC acquired a new stake in Cryoport during the fourth quarter valued at approximately $202,000. 92.90% of the stock is owned by institutional investors and hedge funds.

Cryoport Price Performance

Shares of Cryoport stock traded up $0.18 on Wednesday, hitting $9.23. The company had a trading volume of 779,079 shares, compared to its average volume of 590,531. The business has a 50-day simple moving average of $8.90 and a 200-day simple moving average of $13.48. The company has a debt-to-equity ratio of 0.86, a current ratio of 10.73 and a quick ratio of 10.22. The company has a market cap of $454.67 million, a PE ratio of -3.74 and a beta of 1.59. Cryoport has a 52 week low of $5.32 and a 52 week high of $20.10.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.43) earnings per share (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 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%. The company’s revenue was down 13.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.16) earnings per share. Research analysts expect that Cryoport will post -1.35 EPS for the current fiscal 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.