New York State Common Retirement Fund Increases Stake in Cryoport, Inc. (NASDAQ:CYRX)

Posted by admin on Aug 6th, 2022

New York State Common Retirement Fund grew its position in shares of Cryoport, Inc. (NASDAQ:CYRX – Get Rating) by 35.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 456,166 shares of the consumer goods maker’s stock after buying an additional 119,956 shares during the quarter. New York State Common Retirement Fund owned 0.92% of Cryoport worth $15,925,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CYRX. abrdn plc purchased a new position in shares of Cryoport in the 4th quarter valued at about $37,949,000. Victory Capital Management Inc. increased its holdings in shares of Cryoport by 29.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,661,069 shares of the consumer goods maker’s stock valued at $57,632,000 after purchasing an additional 374,045 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Cryoport in the 4th quarter valued at about $13,411,000. Impax Asset Management Group plc increased its holdings in shares of Cryoport by 20.9% in the 4th quarter. Impax Asset Management Group plc now owns 1,071,742 shares of the consumer goods maker’s stock valued at $63,004,000 after purchasing an additional 185,441 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Cryoport by 4.2% in the 4th quarter. Invesco Ltd. now owns 2,742,341 shares of the consumer goods maker’s stock valued at $162,264,000 after purchasing an additional 111,418 shares in the last quarter.

Cryoport Stock Up 6.7 %

Shares of NASDAQ CYRX opened at $39.40 on Friday. The firm has a market cap of $1.95 billion, a P/E ratio of -6.45 and a beta of 1.13. The company has a debt-to-equity ratio of 0.68, a quick ratio of 14.48 and a current ratio of 14.98. Cryoport, Inc. has a 1 year low of $19.82 and a 1 year high of $86.30. The firm’s 50 day moving average price is $31.25 and its 200 day moving average price is $31.44.

Cryoport (NASDAQ:CYRX – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The consumer goods maker reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.08). The business had revenue of $64.20 million for the quarter, compared to analyst estimates of $64.58 million. Cryoport had a negative return on equity of 13.79% and a negative net margin of 128.78%. Cryoport’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.16) EPS. As a group, sell-side analysts anticipate that Cryoport, Inc. will post -0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Cryoport 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.