Truist Financial Corp Sells 4,789 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Posted by admin on Jul 20th, 2022

Truist Financial Corp lowered its stake in shares of Cryoport, Inc. (NASDAQ:CYRX – Get Rating) by 7.5% during the first quarter, Holdings Channel reports. The fund owned 59,089 shares of the consumer goods maker’s stock after selling 4,789 shares during the period. Truist Financial Corp’s holdings in Cryoport were worth $2,063,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CYRX. Pinebridge Investments L.P. bought a new stake in Cryoport during the 4th quarter worth about $77,000. Parallel Advisors LLC bought a new stake in Cryoport during the 4th quarter worth about $158,000. Commonwealth Equity Services LLC bought a new stake in Cryoport during the 4th quarter worth about $244,000. GSA Capital Partners LLP bought a new stake in Cryoport during the 4th quarter worth about $247,000. Finally, First Bank & Trust acquired a new position in Cryoport during the 4th quarter valued at about $277,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CYRX shares. Needham & Company LLC upped their target price on shares of Cryoport from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, July 12th. BTIG Research cut their target price on shares of Cryoport from $95.00 to $60.00 in a research report on Friday, May 6th. KeyCorp cut their target price on shares of Cryoport from $92.00 to $52.00 in a research report on Friday, May 6th. Roth Capital cut their target price on shares of Cryoport from $90.00 to $67.00 in a research report on Tuesday, May 3rd. Finally, B. Riley cut their target price on shares of Cryoport from $61.00 to $55.00 in a research report on Tuesday, May 17th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $61.33.

Cryoport Stock Performance

Shares of NASDAQ:CYRX opened at $33.87 on Wednesday. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -5.54 and a beta of 1.12. The firm’s 50 day simple moving average is $27.71 and its 200 day simple moving average is $32.33. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.98 and a quick ratio of 14.48. Cryoport, Inc. has a fifty-two week low of $19.82 and a fifty-two week high of $86.30.

Cryoport (NASDAQ:CYRX – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The consumer goods maker reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.11). The firm had revenue of $52.30 million during the quarter, compared to analyst estimates of $52.86 million. Cryoport had a negative net margin of 128.78% and a negative return on equity of 13.79%. The business’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.13) earnings per share. As a group, sell-side analysts forecast that Cryoport, Inc. will post -0.7 earnings per share for the current year.

Cryoport Company Profile

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Cryoport, Inc, a life sciences services company, provides temperature-controlled logistics solutions 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 and monitoring, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, which is used to ensure that the stability of shipped biologic commodities is maintained throughout the shipping cycle.