Cryoport (NASDAQ:CYRX) Issues Earnings Results

Cryoport (NASDAQ:CYRX) issued its earnings results on Tuesday. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06), Briefing.com reports. Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. The firm had revenue of $54.59 million during the quarter, compared to analysts’ expectations of $58.78 million. During the same quarter in the prior year, the company earned ($0.16) EPS. Cryoport’s quarterly revenue was down 13.1% on a year-over-year basis.

Cryoport Trading Down 12.2 %

CYRX stock traded down $2.00 during midday trading on Wednesday, hitting $14.40. 113,153 shares of the company’s stock were exchanged, compared to its average volume of 439,138. Cryoport has a 1-year low of $9.00 and a 1-year high of $23.50. The company has a current ratio of 11.73, a quick ratio of 11.16 and a debt-to-equity ratio of 0.82. The business has a 50-day simple moving average of $16.93 and a two-hundred day simple moving average of $15.22. The stock has a market capitalization of $707.90 million, a PE ratio of -6.67 and a beta of 1.60.

Wall Street Analyst Weigh In

CYRX has been the subject of several recent analyst reports. UBS Group lifted their price target on Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of Cryoport in a research report on Wednesday. B. Riley cut Cryoport from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $19.00 in a report on Friday, May 3rd. Jefferies Financial Group began coverage on Cryoport in a report on Thursday, April 4th. They set a “buy” rating and a $21.00 target price for the company. Finally, Stephens reaffirmed an “equal weight” rating and set a $17.00 price target on shares of Cryoport in a research report on Wednesday, March 13th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Cryoport currently has an average rating of “Hold” and a consensus target price of $18.25.

Insider Activity

In other news, CEO Jerrell Shelton sold 2,631 shares of Cryoport stock in a transaction on Monday, March 25th. The stock was sold at an average price of $17.54, for a total value of $46,147.74. Following the completion of the sale, the chief executive officer now directly owns 692,182 shares of the company’s stock, valued at $12,140,872.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jerrell Shelton sold 2,631 shares of Cryoport stock in a transaction on Monday, March 25th. The stock was sold at an average price of $17.54, for a total value of $46,147.74. Following the completion of the sale, the chief executive officer now directly owns 692,182 shares of the company’s stock, valued at $12,140,872.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ramkumar Mandalam sold 3,217 shares of Cryoport stock in a transaction on Friday, March 15th. The shares were sold at an average price of $14.68, for a total value of $47,225.56. Following the completion of the sale, the director now directly owns 43,187 shares of the company’s stock, valued at $633,985.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,940 shares of company stock valued at $1,147,538. 10.10% of the stock is currently owned by corporate insiders.

Cryoport Company Profile

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.