BidaskClub lowered shares of CryoPort (NASDAQ:CYRX) from a hold rating to a sell rating in a research note released on Wednesday morning, BidAskClub reports.

Other research analysts have also recently issued research reports about the stock. B. Riley set a $26.00 price objective on shares of CryoPort and gave the company a buy rating in a report on Friday, July 19th. Svb Leerink restated an outperform rating on shares of CryoPort in a report on Monday, July 15th. Needham & Company LLC assumed coverage on shares of CryoPort in a report on Monday, July 1st. They issued a buy rating and a $22.00 price objective for the company. Finally, Leerink Swann assumed coverage on shares of CryoPort in a report on Monday, July 15th. They issued a buy rating and a $24.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $24.00.

Shares of CYRX opened at $17.66 on Wednesday. CryoPort has a 1-year low of $8.28 and a 1-year high of $25.02. The stock has a market cap of $632.48 million, a PE ratio of -56.97 and a beta of 0.88. The firm has a 50-day simple moving average of $21.12 and a two-hundred day simple moving average of $17.26. 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 (NASDAQ:CYRX) last announced its quarterly earnings results on Thursday, August 8th. The consumer goods maker reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). CryoPort had a negative net margin of 35.71% and a negative return on equity of 17.32%. The business had revenue of $8.46 million during the quarter, compared to analysts’ expectations of $7.94 million. During the same period last year, the business earned ($0.09) earnings per share. The business’s revenue for the quarter was up 82.7% on a year-over-year basis. As a group, sell-side analysts expect that CryoPort will post -0.3 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in CYRX. BNP Paribas Arbitrage SA acquired a new position in shares of CryoPort in the first quarter valued at approximately $74,000. Bank of America Corp DE grew its holdings in shares of CryoPort by 92.3% in the fourth quarter. Bank of America Corp DE now owns 16,037 shares of the consumer goods maker’s stock valued at $176,000 after purchasing an additional 7,697 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in shares of CryoPort in the second quarter valued at approximately $183,000. SG Americas Securities LLC acquired a new position in shares of CryoPort in the second quarter valued at approximately $249,000. Finally, Marshall Wace LLP acquired a new position in shares of CryoPort in the second quarter valued at approximately $282,000. Hedge funds and other institutional investors own 59.59% of the company’s stock.

CryoPort Company Profile

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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