BidaskClub Lowers CryoPort (NASDAQ:CYRX) to Hold

BidaskClub cut shares of CryoPort (NASDAQ:CYRX) from a buy rating to a hold rating in a research report released on Thursday, BidAskClub reports.

A number of other equities research analysts have also recently weighed in on the company. Leerink Swann assumed coverage on CryoPort in a research note on Monday, July 15th. They set a buy rating and a $24.00 price objective for the company. B. Riley set a $26.00 price target on CryoPort and gave the company a buy rating in a research report on Friday, July 19th. Needham & Company LLC initiated coverage on CryoPort in a research report on Monday, July 1st. They issued a buy rating and a $22.00 price target on the stock. Finally, Svb Leerink restated an outperform rating on shares of CryoPort in a research report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $22.00.

Shares of NASDAQ CYRX traded up $3.01 during mid-day trading on Thursday, reaching $23.19. 1,456,924 shares of the company were exchanged, compared to its average volume of 329,115. The company has a current ratio of 11.57, a quick ratio of 11.52 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $626.88 million, a PE ratio of -74.81 and a beta of 0.82. CryoPort has a 1 year low of $8.28 and a 1 year high of $23.69. The business has a 50-day simple moving average of $19.38.

CryoPort (NASDAQ:CYRX) last issued its quarterly earnings data on Thursday, August 8th. The consumer goods maker reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The firm had revenue of $8.46 million during the quarter, compared to analysts’ expectations of $7.94 million. CryoPort had a negative return on equity of 26.25% and a negative net margin of 35.71%. The firm’s quarterly revenue was up 82.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) EPS. Analysts anticipate that CryoPort will post -0.29 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in CryoPort by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 302,544 shares of the consumer goods maker’s stock valued at $3,337,000 after purchasing an additional 14,530 shares in the last quarter. Pier Capital LLC boosted its holdings in CryoPort by 48.6% during the first quarter. Pier Capital LLC now owns 505,334 shares of the consumer goods maker’s stock worth $6,529,000 after purchasing an additional 165,229 shares during the last quarter. Perkins Capital Management Inc. boosted its holdings in CryoPort by 17.4% during the first quarter. Perkins Capital Management Inc. now owns 173,650 shares of the consumer goods maker’s stock worth $2,244,000 after purchasing an additional 25,750 shares during the last quarter. Penbrook Management LLC boosted its holdings in CryoPort by 9.3% during the first quarter. Penbrook Management LLC now owns 91,150 shares of the consumer goods maker’s stock worth $1,178,000 after purchasing an additional 7,740 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in CryoPort by 0.3% during the fourth quarter. Northern Trust Corp now owns 338,111 shares of the consumer goods maker’s stock worth $3,729,000 after purchasing an additional 1,028 shares during the last quarter. 53.92% of the stock is currently owned by institutional investors and hedge funds.

About CryoPort

CryoPort, Inc engages in the provision of logistics solutions to the life science industry. It also provides logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide, including points-of-care, clinical research organizations central laboratories, biopharmaceuticals, contract manufacturing, health centers, and university researchers.

See Also: What is net income?

Analyst Recommendations for CryoPort (NASDAQ:CYRX)

Receive News & Ratings for CryoPort Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CryoPort and related companies with MarketBeat.com's FREE daily email newsletter.