CryoPort (NASDAQ:CYRX) Releases Earnings Results, Meets Expectations

CryoPort (NASDAQ:CYRX) released its quarterly earnings data on Thursday. The consumer goods maker reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08), Briefing.com reports. The firm had revenue of $8.46 million for the quarter, compared to analyst estimates of $7.94 million. CryoPort had a negative net margin of 35.71% and a negative return on equity of 26.25%. CryoPort’s quarterly revenue was up 82.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share.

CYRX traded up $3.01 on Friday, hitting $23.19. 1,456,924 shares of the company’s stock were exchanged, compared to its average volume of 329,115. The firm has a market capitalization of $626.88 million, a price-to-earnings ratio of -74.81 and a beta of 0.82. CryoPort has a twelve month low of $8.28 and a twelve month high of $23.69. The company’s fifty day simple moving average is $19.38. The company has a current ratio of 11.57, a quick ratio of 11.52 and a debt-to-equity ratio of 0.42.

Several equities research analysts recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of CryoPort in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. Leerink Swann assumed coverage on shares of CryoPort in a research note on Monday, July 15th. They set a “buy” rating and a $24.00 price objective on the stock. BidaskClub lowered shares of CryoPort from a “buy” rating to a “hold” rating in a research note on Thursday. B. Riley set a $26.00 price objective on shares of CryoPort and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Svb Leerink reiterated an “outperform” rating on shares of CryoPort in a research note on Monday, July 15th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. CryoPort presently has an average rating of “Buy” and a consensus target price of $22.00.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in CryoPort by 2.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 64,566 shares of the consumer goods maker’s stock valued at $1,183,000 after purchasing an additional 1,402 shares during the last quarter. Atria Investments LLC bought a new position in shares of CryoPort in the second quarter worth about $404,000. AWM Investment Company Inc. bought a new position in shares of CryoPort in the second quarter worth about $641,000. Handelsinvest Investeringsforvaltning bought a new position in shares of CryoPort in the second quarter worth about $183,000. Finally, Monashee Investment Management LLC bought a new position in shares of CryoPort in the second quarter worth about $1,374,000. Hedge funds and other institutional investors own 53.92% of the company’s stock.

CryoPort Company Profile

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.

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Earnings History for CryoPort (NASDAQ:CYRX)

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