Cryoport (NASDAQ:CYRX) Hits New 52-Week Low at $12.34

Posted by MarketBeat News on Sep 11th, 2023

Shares of Cryoport, Inc. (NASDAQ:CYRX – Get Free Report) reached a new 52-week low on Monday . The company traded as low as $12.34 and last traded at $12.80, with a volume of 181197 shares traded. The stock had previously closed at $12.77.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. SVB Securities lowered Cryoport from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $30.00 to $10.00 in a research note on Thursday, July 13th. SVB Leerink lowered Cryoport from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 13th. UBS Group lowered Cryoport from a “buy” rating to a “neutral” rating and cut their price target for the company from $28.00 to $17.00 in a research note on Tuesday, July 18th. B. Riley cut their price target on Cryoport from $30.00 to $22.00 in a research note on Thursday, July 13th. Finally, BTIG Research cut their price target on Cryoport from $33.00 to $28.00 in a research note on Thursday, August 10th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Cryoport presently has a consensus rating of “Hold” and a consensus price target of $20.78.

Check Out Our Latest Report on Cryoport

Cryoport Price Performance

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The firm has a 50 day simple moving average of $15.02 and a 200-day simple moving average of $18.84. The company has a quick ratio of 13.82, a current ratio of 14.54 and a debt-to-equity ratio of 0.78. The company has a market cap of $612.47 million, a PE ratio of -12.92 and a beta of 1.26.

Cryoport (NASDAQ:CYRX – Get Free Report) last issued its quarterly earnings results on Wednesday, August 9th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.17). The business had revenue of $57.02 million during the quarter, compared to analyst estimates of $56.94 million. Cryoport had a negative return on equity of 7.23% and a negative net margin of 16.07%. As a group, research analysts predict that Cryoport, Inc. will post -1.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cryoport news, insider Jerrell Shelton sold 26,875 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $14.27, for a total value of $383,506.25. Following the completion of the sale, the insider now owns 632,424 shares of the company’s stock, valued at $9,024,690.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Cryoport

A number of institutional investors and hedge funds have recently modified their holdings of CYRX. Impax Asset Management Group plc lifted its holdings in Cryoport by 46.7% in the fourth quarter. Impax Asset Management Group plc now owns 2,484,660 shares of the company’s stock valued at $42,784,000 after acquiring an additional 791,037 shares during the period. Thematics Asset Management acquired a new position in Cryoport in the fourth quarter valued at approximately $9,525,000. Brown Capital Management LLC lifted its holdings in Cryoport by 7.6% in the first quarter. Brown Capital Management LLC now owns 7,489,089 shares of the company’s stock valued at $179,738,000 after acquiring an additional 529,882 shares during the period. Invesco Ltd. lifted its holdings in Cryoport by 17.7% in the first quarter. Invesco Ltd. now owns 3,228,313 shares of the company’s stock valued at $112,700,000 after acquiring an additional 485,972 shares during the period. Finally, Granahan Investment Management LLC lifted its holdings in Cryoport by 125.1% in the second quarter. Granahan Investment Management LLC now owns 801,004 shares of the company’s stock valued at $13,817,000 after acquiring an additional 445,087 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

Cryoport Company Profile

(Get Free Report)

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. It operates in two segments: Global Logistics Solutions and Global Bioservices. 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.