Bank of New York Mellon Corp Boosts Holdings in Cryoport, Inc. (NASDAQ:CYRX)

Bank of New York Mellon Corp boosted its holdings in shares of Cryoport, Inc. (NASDAQ:CYRX) by 13.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 169,155 shares of the company’s stock after buying an additional 19,803 shares during the period. Bank of New York Mellon Corp’s holdings in Cryoport were worth $1,169,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CYRX. Cadian Capital Management LP increased its holdings in Cryoport by 30.4% during the 4th quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company’s stock worth $53,659,000 after purchasing an additional 807,340 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Cryoport by 52.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company’s stock worth $10,211,000 after buying an additional 511,064 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Cryoport during the first quarter worth approximately $7,800,000. Allspring Global Investments Holdings LLC acquired a new stake in Cryoport in the first quarter valued at approximately $2,905,000. Finally, WCM Investment Management LLC lifted its stake in Cryoport by 41.8% in the first quarter. WCM Investment Management LLC now owns 459,492 shares of the company’s stock worth $8,133,000 after acquiring an additional 135,401 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Cryoport Stock Down 2.5 %

CYRX opened at $8.51 on Friday. Cryoport, Inc. has a one year low of $5.32 and a one year high of $20.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 7.99 and a current ratio of 8.38. The stock has a market capitalization of $419.18 million, a P/E ratio of -3.45 and a beta of 1.60. The business’s 50-day simple moving average is $8.53 and its 200-day simple moving average is $11.70.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.62) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($1.25). The firm had revenue of $57.60 million during the quarter, compared to analyst estimates of $57.65 million. Cryoport had a negative net margin of 76.48% and a negative return on equity of 15.55%. Cryoport’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.42) earnings per share. Analysts anticipate that Cryoport, Inc. will post -1.63 EPS for the current year.

Cryoport declared that its Board of Directors has approved a share buyback program on Tuesday, August 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 49.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CYRX shares. UBS Group dropped their price objective on shares of Cryoport from $17.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. B. Riley raised Cryoport from a “neutral” rating to a “buy” rating and cut their target price for the stock from $19.00 to $15.00 in a research report on Wednesday, July 31st. Jefferies Financial Group downgraded Cryoport from a “buy” rating to a “hold” rating and lowered their price target for the company from $20.00 to $8.00 in a report on Wednesday, August 7th. Finally, Needham & Company LLC cut their price objective on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.60.

Insiders Place Their Bets

In other news, Director Ramkumar Mandalam sold 4,167 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $8.04, for a total value of $33,502.68. Following the completion of the sale, the director now directly owns 56,032 shares of the company’s stock, valued at $450,497.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 7,167 shares of company stock valued at $60,363. Insiders own 10.10% of the company’s stock.

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.