SG Americas Securities LLC Buys 74,590 Shares of Cryoport, Inc. (NASDAQ:CYRX)

SG Americas Securities LLC raised its stake in shares of Cryoport, Inc. (NASDAQ:CYRX) by 278.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 101,359 shares of the company’s stock after purchasing an additional 74,590 shares during the period. SG Americas Securities LLC owned 0.21% of Cryoport worth $822,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CYRX. Comerica Bank grew its holdings 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 period. Quest Partners LLC grew its holdings in Cryoport by 1,083,000.0% during the second 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 bought a new stake in Cryoport during the second quarter valued at about $92,000. Lazard Asset Management LLC grew its holdings 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 period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Cryoport by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock valued at $122,000 after acquiring an additional 1,534 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

Insider Buying and Selling 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 stock was 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 $450,497.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 7,167 shares of company stock worth $60,363 over the last ninety days. Company insiders own 10.10% of the company’s stock.

Cryoport Price Performance

NASDAQ:CYRX opened at $6.98 on Friday. 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 company has a market capitalization of $343.81 million, a P/E ratio of -2.83 and a beta of 1.60. Cryoport, Inc. has a 12 month low of $5.32 and a 12 month high of $20.10. The business’s 50-day moving average is $8.25 and its 200 day moving average is $10.69.

Cryoport (NASDAQ:CYRX) last posted its earnings results on Tuesday, August 6th. The company reported ($1.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($1.25). The firm had revenue of $57.60 million during the quarter, compared to analysts’ expectations of $57.65 million. Cryoport had a negative return on equity of 15.55% and a negative net margin of 76.48%. Cryoport’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. On average, equities research analysts forecast that Cryoport, Inc. will post -1.63 earnings per share for the current fiscal year.

Cryoport announced that its Board of Directors has initiated a share repurchase plan on Tuesday, August 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 49.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently commented on CYRX. Jefferies Financial Group downgraded Cryoport from a “buy” rating to a “hold” rating and lowered their price objective for the company from $20.00 to $8.00 in a research report on Wednesday, August 7th. Needham & Company LLC lowered their price objective on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. UBS Group lowered their price objective on Cryoport from $17.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, B. Riley upgraded Cryoport from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Cryoport currently 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.