Short Interest in Cryoport, Inc. (NASDAQ:CYRX) Declines By 7.2%

Cryoport, Inc. (NASDAQ:CYRX) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 2,980,000 shares, a decline of 7.2% from the August 15th total of 3,210,000 shares. Based on an average trading volume of 832,300 shares, the days-to-cover ratio is currently 3.6 days. Approximately 6.3% of the company’s stock are short sold.

Cryoport Stock Performance

NASDAQ CYRX traded up $0.08 on Wednesday, reaching $8.47. 480,793 shares of the company’s stock traded hands, compared to its average volume of 604,421. Cryoport has a fifty-two week low of $5.32 and a fifty-two week high of $20.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 7.99 and a current ratio of 8.38. The firm has a market cap of $417.21 million, a price-to-earnings ratio of -3.40 and a beta of 1.60. The stock has a 50 day moving average price of $8.44 and a 200-day moving average price of $11.74.

Cryoport (NASDAQ:CYRX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($1.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($1.25). The company had revenue of $57.60 million during the quarter, compared to analyst estimates of $57.65 million. Cryoport had a negative net margin of 76.48% and a negative return on equity of 15.55%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.42) EPS. Equities research analysts predict that Cryoport will post -1.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on CYRX. Needham & Company LLC decreased their price objective on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group lowered Cryoport from a “buy” rating to a “hold” rating and reduced their target price for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. UBS Group dropped their price target on Cryoport from $17.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, B. Riley upgraded Cryoport from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $19.00 to $15.00 in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.60.

Insider Buying and Selling

In other Cryoport news, Director Ramkumar Mandalam sold 4,167 shares of Cryoport stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.04, for a total value of $33,502.68. Following the transaction, the director now directly owns 56,032 shares of the company’s stock, valued at $450,497.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 7,167 shares of company stock worth $60,363 in the last 90 days. 10.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cryoport

Several hedge funds have recently bought and sold shares of CYRX. Cadian Capital Management LP boosted its holdings in Cryoport by 30.4% during 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 in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Cryoport during the first quarter valued at $2,905,000. BNP Paribas Financial Markets lifted its holdings in Cryoport by 155.9% during the first quarter. BNP Paribas Financial Markets now owns 82,653 shares of the company’s stock valued at $1,463,000 after purchasing an additional 50,355 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Cryoport by 52.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company’s stock worth $10,211,000 after purchasing an additional 511,064 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in shares of Cryoport during the 1st quarter worth about $358,000. Hedge funds and other institutional investors 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.