CryoPort (NASDAQ:CYRX) Lowered to Sell at BidaskClub

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CryoPort (NASDAQ:CYRX) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday, September 18th, BidAskClub reports.

Several other equities research analysts have also recently commented on the company. Needham & Company LLC initiated coverage on CryoPort in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target for the company. Leerink Swann initiated coverage on CryoPort in a research note on Monday, July 15th. They set a “buy” rating and a $24.00 target price for the company. B. Riley set a $26.00 target price on CryoPort and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Svb Leerink reissued an “outperform” rating on shares of CryoPort in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. CryoPort has an average rating of “Buy” and an average price target of $24.00.

CYRX stock traded up $0.26 during mid-day trading on Wednesday, reaching $14.49. 641,940 shares of the company’s stock were exchanged, compared to its average volume of 881,643. The company has a market cap of $486.91 million, a price-to-earnings ratio of -46.74 and a beta of 0.81. The stock’s 50 day moving average is $18.33 and its 200 day moving average is $17.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 17.73 and a quick ratio of 17.68. CryoPort has a 12-month low of $8.28 and a 12-month high of $25.02.

CryoPort (NASDAQ:CYRX) last released its earnings results on Thursday, August 8th. The consumer goods maker reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). CryoPort had a negative return on equity of 17.32% and a negative net margin of 35.71%. The business had revenue of $8.46 million for the quarter, compared to the consensus estimate of $7.94 million. During the same quarter last year, the business posted ($0.09) earnings per share. The business’s quarterly revenue was up 82.7% compared to the same quarter last year. On average, research analysts forecast that CryoPort will post -0.3 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. River & Mercantile Asset Management LLP purchased a new position in CryoPort in the second quarter valued at $3,326,000. Atria Investments LLC purchased a new position in CryoPort in the second quarter valued at $404,000. Royal Bank of Canada boosted its holdings in CryoPort by 44.5% in the second quarter. Royal Bank of Canada now owns 138,389 shares of the consumer goods maker’s stock valued at $2,536,000 after purchasing an additional 42,623 shares during the period. Nuveen Asset Management LLC purchased a new position in CryoPort in the second quarter valued at $1,902,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in CryoPort in the second quarter valued at $12,830,000. 59.59% of the stock is owned by institutional investors and hedge funds.

About CryoPort

CryoPort, Inc engages in the provision of logistics solutions to the life science industry. It also provides logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide, including points-of-care, clinical research organizations central laboratories, biopharmaceuticals, contract manufacturing, health centers, and university researchers.

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