Norges Bank Takes $1.62 Million Position in CryoPort, Inc. $CYRX

Norges Bank purchased a new position in shares of CryoPort, Inc. (NASDAQ:CYRX) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 217,700 shares of the company’s stock, valued at approximately $1,624,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avanza Fonder AB increased its stake in CryoPort by 31.4% in the 2nd quarter. Avanza Fonder AB now owns 10,882 shares of the company’s stock valued at $81,000 after buying an additional 2,601 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of CryoPort by 299.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,639 shares of the company’s stock valued at $27,000 after acquiring an additional 2,729 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of CryoPort by 13.8% during the first quarter. MetLife Investment Management LLC now owns 24,641 shares of the company’s stock worth $150,000 after acquiring an additional 2,980 shares during the period. Intech Investment Management LLC increased its stake in shares of CryoPort by 14.6% during the second quarter. Intech Investment Management LLC now owns 25,951 shares of the company’s stock worth $194,000 after acquiring an additional 3,305 shares during the period. Finally, Franklin Resources Inc. raised its holdings in CryoPort by 0.9% during the second quarter. Franklin Resources Inc. now owns 394,420 shares of the company’s stock worth $2,942,000 after purchasing an additional 3,710 shares in the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

CryoPort Stock Performance

NASDAQ CYRX opened at $10.06 on Thursday. The company has a quick ratio of 15.01, a current ratio of 15.77 and a debt-to-equity ratio of 0.40. CryoPort, Inc. has a fifty-two week low of $4.58 and a fifty-two week high of $11.44. The business has a fifty day moving average of $9.43 and a 200-day moving average of $8.45. The stock has a market cap of $503.70 million, a price-to-earnings ratio of 8.60 and a beta of 1.51.

CryoPort (NASDAQ:CYRX) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. The business had revenue of $44.23 million for the quarter, compared to analyst estimates of $41.22 million. CryoPort had a negative return on equity of 11.07% and a net margin of 35.57%. As a group, analysts predict that CryoPort, Inc. will post -0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group lifted their price objective on CryoPort from $11.00 to $12.50 and gave the company a “buy” rating in a report on Wednesday, November 5th. Needham & Company LLC lifted their price target on CryoPort from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CryoPort in a report on Monday. Finally, BTIG Research raised their target price on CryoPort from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.83.

About CryoPort

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.