CryoPort, Inc. (CYRX) Shares Down 12.9%
CryoPort, Inc. (NASDAQ:CYRX) shares fell 12.9% during trading on Wednesday . The company traded as low as $8.00 and last traded at $8.27. 674,228 shares traded hands during mid-day trading, an increase of 171% from the average session volume of 248,600 shares. The stock had previously closed at $9.50.
A number of brokerages recently commented on CYRX. Janney Montgomery Scott set a $8.00 price target on CryoPort and gave the company a “buy” rating in a report on Wednesday, July 26th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price target (up previously from $4.50) on shares of CryoPort in a report on Monday, June 26th. Finally, Cowen and Company began coverage on CryoPort in a report on Friday, June 16th. They issued an “outperform” rating and a $5.50 price target for the company.
The firm’s market capitalization is $189.74 million. The company’s 50-day moving average price is $8.57 and its 200 day moving average price is $5.24.
CryoPort (NASDAQ:CYRX) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. CryoPort had a negative return on equity of 67.75% and a negative net margin of 102.89%. The firm had revenue of $2.92 million for the quarter, compared to analyst estimates of $2.84 million. On average, analysts forecast that CryoPort, Inc. will post ($0.72) EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of CYRX. Taylor Wealth Management Partners bought a new position in CryoPort during the second quarter valued at about $1,851,000. Vanguard Group Inc. increased its stake in CryoPort by 96.9% during the second quarter. Vanguard Group Inc. now owns 519,100 shares of the company’s stock valued at $2,554,000 after acquiring an additional 255,519 shares during the period. EAM Investors LLC bought a new position in CryoPort during the second quarter valued at about $552,000. D.A. Davidson & CO. increased its stake in CryoPort by 16.6% during the second quarter. D.A. Davidson & CO. now owns 137,000 shares of the company’s stock valued at $674,000 after acquiring an additional 19,500 shares during the period. Finally, BerganKDV Wealth Management LLC increased its stake in CryoPort by 157.5% during the second quarter. BerganKDV Wealth Management LLC now owns 25,750 shares of the company’s stock valued at $127,000 after acquiring an additional 15,750 shares during the period. Hedge funds and other institutional investors own 12.05% of the company’s stock.
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Cryoport, Inc (Cryoport) is a provider of cryogenic logistics solutions to the life sciences industry through its purpose-built packaging, information technology and specialized cold chain logistics expertise. The Company provides logistics solutions for biologic materials, such as immunotherapies, stem cells, chimeric antigen receptors (CAR)-T cells, and reproductive cells for clients.
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