Marshall Wace LLP Invests $282,000 in Cryoport, Inc. (NASDAQ:CYRX)

Marshall Wace LLP purchased a new position in Cryoport, Inc. (NASDAQ:CYRX) in the second quarter, Holdings Channel reports. The fund purchased 40,828 shares of the company’s stock, valued at approximately $282,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CYRX. Comerica Bank raised its holdings 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 in the last quarter. Quest Partners LLC raised its stake in Cryoport by 1,083,000.0% during the 2nd quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock valued at $75,000 after purchasing an additional 10,830 shares during the period. Hsbc Holdings PLC acquired a new stake in Cryoport during the 2nd quarter valued at $92,000. Lazard Asset Management LLC grew its holdings in shares of Cryoport by 294.3% during the 1st quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock valued at $95,000 after acquiring an additional 4,014 shares in the last quarter. Finally, NRI Wealth Management LC purchased a new position in shares of Cryoport during the 2nd quarter valued at $132,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Cryoport Trading Up 4.6 %

Shares of NASDAQ:CYRX opened at $6.98 on Friday. The company’s 50-day moving average price is $8.25 and its two-hundred day moving average price is $10.74. The company has a debt-to-equity ratio of 0.97, a current ratio of 8.38 and a quick ratio of 7.99. Cryoport, Inc. has a one year low of $5.32 and a one year high of $20.10. The stock has a market capitalization of $344.88 million, a PE ratio of -1.90 and a beta of 1.60.

Cryoport (NASDAQ:CYRX) last released its quarterly earnings data 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 return on equity of 15.55% and a negative net margin of 76.48%. The firm had revenue of $57.60 million for the quarter, compared to analyst estimates of $57.65 million. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts forecast that Cryoport, Inc. will post -1.63 EPS for the current fiscal year.

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

Insider Transactions at Cryoport

In other Cryoport news, Director Ramkumar Mandalam sold 4,167 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 56,032 shares in the company, valued at approximately $450,497.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 7,167 shares of company stock valued at $60,363. Company insiders own 10.10% of the company’s stock.

Analyst Upgrades and Downgrades

CYRX has been the subject of a number of recent research reports. Jefferies Financial Group cut shares of Cryoport from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $20.00 to $8.00 in a report on Wednesday, August 7th. B. Riley raised shares of Cryoport from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $19.00 to $15.00 in a research report on Wednesday, July 31st. UBS Group decreased their price objective on shares of Cryoport from $17.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Needham & Company LLC decreased their price target on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Three 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 a consensus price target of $11.60.

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.