Cubist Systematic Strategies LLC Makes New $378,000 Investment in Cryoport, Inc. (NASDAQ:CYRX)

Cubist Systematic Strategies LLC bought a new stake in Cryoport, Inc. (NASDAQ:CYRX) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 54,720 shares of the company’s stock, valued at approximately $378,000. Cubist Systematic Strategies LLC owned approximately 0.11% of Cryoport as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CYRX. AXA S.A. grew its stake in Cryoport by 274.2% during the second quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after buying an additional 639,855 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Cryoport by 52.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company’s stock valued at $10,211,000 after purchasing an additional 511,064 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Cryoport in the 1st quarter valued at $7,800,000. Allspring Global Investments Holdings LLC acquired a new position in Cryoport in the first quarter worth $2,905,000. Finally, Federated Hermes Inc. bought a new stake in shares of Cryoport during the second quarter worth $774,000. Institutional investors own 92.90% of the company’s stock.

Insider Activity at Cryoport

In other Cryoport news, Director Ramkumar Mandalam sold 4,167 shares of the firm’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 transaction of $33,502.68. Following the sale, the director now directly owns 56,032 shares in the company, valued at approximately $450,497.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders sold 7,167 shares of company stock worth $60,363. 10.10% of the stock is owned by company insiders.

Cryoport Trading Up 4.6 %

NASDAQ:CYRX opened at $6.98 on Monday. The firm has a market capitalization of $343.81 million, a price-to-earnings ratio of -2.83 and a beta of 1.60. Cryoport, Inc. has a 1-year low of $5.32 and a 1-year high of $20.10. The business’s 50-day moving average price is $8.25 and its two-hundred day moving average price is $10.64. The company has a current ratio of 8.38, a quick ratio of 7.99 and a debt-to-equity ratio of 0.97.

Cryoport (NASDAQ:CYRX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($1.62) EPS 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 business had revenue of $57.60 million for the quarter, compared to analyst estimates of $57.65 million. During the same period in the previous year, the business posted ($0.42) EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities analysts expect that Cryoport, Inc. will post -1.63 earnings per share for the current year.

Cryoport announced that its board has approved a stock repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 49.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. B. Riley raised Cryoport from a “neutral” rating to a “buy” rating and cut their price target for the company from $19.00 to $15.00 in a report on Wednesday, July 31st. 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 research note on Wednesday, August 7th. 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. Finally, UBS Group dropped their price objective on shares of Cryoport from $17.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.60.

Cryoport 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.