CryoPort (NASDAQ:CYRX) released its quarterly earnings data on Thursday. The consumer goods maker reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01, Briefing.com reports. The firm had revenue of $5.30 million during the quarter, compared to the consensus estimate of $5.06 million. CryoPort had a negative net margin of 62.80% and a negative return on equity of 45.60%. The firm’s revenue was up 76.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 earnings per share.
Shares of CYRX traded down $0.19 during midday trading on Friday, hitting $11.37. 180,626 shares of the stock traded hands, compared to its average volume of 217,421. CryoPort has a 1-year low of $6.02 and a 1-year high of $16.88. The company has a market cap of $329.71 million, a price-to-earnings ratio of -33.44 and a beta of 1.42.
CYRX has been the subject of a number of research reports. BidaskClub downgraded shares of CryoPort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Cowen lifted their price objective on shares of CryoPort from $11.00 to $16.00 and gave the stock an “outperform” rating in a report on Monday, August 13th. Finally, B. Riley initiated coverage on shares of CryoPort in a report on Wednesday, October 10th. They issued a “buy” rating and a $22.00 price objective for the company. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $19.75.
In other news, Director Richard J. Berman sold 10,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard J. Berman sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $12.81, for a total transaction of $256,200.00. The disclosure for this sale can be found here. Insiders own 9.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CYRX. Fred Alger Management Inc. acquired a new position in shares of CryoPort during the second quarter valued at $43,068,000. BlackRock Inc. boosted its holdings in shares of CryoPort by 507.7% during the second quarter. BlackRock Inc. now owns 1,745,626 shares of the consumer goods maker’s stock valued at $27,545,000 after acquiring an additional 1,458,357 shares during the period. Millennium Management LLC boosted its holdings in shares of CryoPort by 205.0% during the first quarter. Millennium Management LLC now owns 434,068 shares of the consumer goods maker’s stock valued at $3,733,000 after acquiring an additional 291,737 shares during the period. Northern Trust Corp boosted its holdings in shares of CryoPort by 434.5% during the second quarter. Northern Trust Corp now owns 325,678 shares of the consumer goods maker’s stock valued at $5,140,000 after acquiring an additional 264,743 shares during the period. Finally, CQS Cayman LP acquired a new position in shares of CryoPort during the third quarter valued at $2,290,000. 48.25% of the stock is owned by institutional investors.
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CryoPort Company Profile
Cryoport, Inc provides cryogenic logistics solutions to the life sciences industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, a dry vapor cryogenic shipper that use liquid nitrogen contained inside a vacuum insulated vessel, which serves as a refrigerant to provide stable storage temperatures.
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