Cryoport, Inc. (NASDAQ:CYRX) Short Interest Up 9.1% in April

Cryoport, Inc. (NASDAQ:CYRX) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 4,430,000 shares, a growth of 9.1% from the March 31st total of 4,060,000 shares. Based on an average daily trading volume, of 445,600 shares, the days-to-cover ratio is presently 9.9 days. Currently, 9.4% of the company’s stock are sold short.

Cryoport Stock Performance

Shares of CYRX stock traded down $0.50 during mid-day trading on Tuesday, reaching $16.31. The stock had a trading volume of 73,396 shares, compared to its average volume of 437,065. The business’s fifty day moving average is $16.89 and its 200-day moving average is $15.03. 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 firm has a market cap of $801.80 million, a price-to-earnings ratio of -7.64 and a beta of 1.60. Cryoport has a 1-year low of $9.00 and a 1-year high of $24.17.

Cryoport (NASDAQ:CYRX) last posted its earnings results on Tuesday, March 12th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.19). The company had revenue of $57.26 million for the quarter, compared to analyst estimates of $58.27 million. Cryoport had a negative return on equity of 11.86% and a negative net margin of 42.69%. On average, research analysts forecast that Cryoport will post -1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CYRX. Jefferies Financial Group began coverage on Cryoport in a research note on Thursday, April 4th. They issued a “buy” rating and a $21.00 price target for the company. Stephens reiterated an “equal weight” rating and issued a $17.00 price target on shares of Cryoport in a research note on Wednesday, March 13th. UBS Group increased their price objective on Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Needham & Company LLC cut their price objective on Cryoport from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.63.

Insider Transactions at Cryoport

In related news, CEO Jerrell Shelton sold 2,631 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $17.54, for a total transaction of $46,147.74. Following the completion of the sale, the chief executive officer now directly owns 692,182 shares in the company, valued at approximately $12,140,872.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ramkumar Mandalam sold 3,217 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $14.68, for a total transaction of $47,225.56. Following the completion of the sale, the director now directly owns 43,187 shares in the company, valued at approximately $633,985.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jerrell Shelton sold 2,631 shares of the stock in a transaction dated Monday, March 25th. The shares were 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 owns 692,182 shares of the company’s stock, valued at $12,140,872.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,940 shares of company stock valued at $1,147,538. 10.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Cryoport

Several hedge funds and other institutional investors have recently bought and sold shares of CYRX. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cryoport by 13.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,462 shares of the company’s stock worth $157,000 after acquiring an additional 1,395 shares during the period. Roubaix Capital LLC grew its holdings in Cryoport by 12.3% in the third quarter. Roubaix Capital LLC now owns 150,129 shares of the company’s stock valued at $2,058,000 after purchasing an additional 16,428 shares during the period. Skylands Capital LLC grew its holdings in Cryoport by 23.7% in the third quarter. Skylands Capital LLC now owns 84,950 shares of the company’s stock valued at $1,165,000 after purchasing an additional 16,300 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Cryoport in the third quarter valued at approximately $3,250,000. Finally, Quantbot Technologies LP grew its holdings in Cryoport by 109.0% in the third quarter. Quantbot Technologies LP now owns 12,838 shares of the company’s stock valued at $176,000 after purchasing an additional 6,694 shares during the period. 92.90% of the stock is owned by institutional investors and hedge funds.

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.