Commerce Bank Sells 560 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Commerce Bank decreased its holdings in Cryoport, Inc. (NASDAQ:CYRX) by 5.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,575 shares of the consumer goods maker’s stock after selling 560 shares during the quarter. Commerce Bank’s holdings in Cryoport were worth $637,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CYRX. Fifth Third Bancorp grew its position in Cryoport by 2.6% during the 3rd quarter. Fifth Third Bancorp now owns 8,588 shares of the consumer goods maker’s stock worth $571,000 after acquiring an additional 216 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Cryoport by 1.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 30,344 shares of the consumer goods maker’s stock worth $1,915,000 after acquiring an additional 298 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Cryoport by 3.0% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 16,248 shares of the consumer goods maker’s stock worth $1,081,000 after acquiring an additional 480 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Cryoport by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,864 shares of the consumer goods maker’s stock worth $1,443,000 after acquiring an additional 491 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Cryoport by 10.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,800 shares of the consumer goods maker’s stock worth $385,000 after acquiring an additional 529 shares during the last quarter.

Shares of NASDAQ:CYRX opened at $45.50 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 9.99 and a quick ratio of 9.66. The business’s 50-day moving average is $62.79 and its 200-day moving average is $64.20. Cryoport, Inc. has a 1 year low of $43.51 and a 1 year high of $86.30.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings results on Thursday, November 4th. The consumer goods maker reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). Cryoport had a positive return on equity of 2.67% and a negative net margin of 12.57%. The firm had revenue of $56.69 million for the quarter, compared to analyst estimates of $54.44 million. During the same period last year, the company posted ($0.29) earnings per share. The firm’s quarterly revenue was up 407.5% compared to the same quarter last year. Equities analysts anticipate that Cryoport, Inc. will post -0.63 EPS for the current fiscal year.

In related news, major shareholder Freeze Parent L.P. Blackstone sold 500,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 16th. The stock was sold at an average price of $76.00, for a total value of $38,000,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jerrell Shelton sold 64,963 shares of the stock in a transaction on Friday, December 10th. The stock was sold at an average price of $65.15, for a total value of $4,232,339.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 641,717 shares of company stock worth $48,270,373. 10.90% of the stock is owned by company insiders.

A number of brokerages recently weighed in on CYRX. KeyCorp boosted their price objective on Cryoport from $75.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, November 5th. Roth Capital lowered Cryoport from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $78.00 to $90.00 in a research report on Friday, November 5th. They noted that the move was a valuation call. Zacks Investment Research raised Cryoport from a “sell” rating to a “hold” rating in a report on Tuesday. BTIG Research lifted their target price on Cryoport from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, October 26th. Finally, B. Riley reaffirmed a “buy” rating on shares of Cryoport in a report on Thursday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $84.75.

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.

Further Reading: Reverse Stock Split

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Institutional Ownership by Quarter for Cryoport (NASDAQ:CYRX)

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