Cryoport (NASDAQ:CYRX) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Cryoport (NASDAQ:CYRX) issued its quarterly earnings data on Tuesday. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $54.59 million during the quarter, compared to analyst estimates of $58.78 million. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. Cryoport’s revenue for the quarter was down 13.1% compared to the same quarter last year.

Cryoport Stock Performance

CYRX traded down $2.00 during trading hours on Wednesday, reaching $14.40. The company’s stock had a trading volume of 113,153 shares, compared to its average volume of 439,138. Cryoport has a 52 week low of $9.00 and a 52 week high of $23.50. The company’s 50-day moving average is $16.93 and its 200-day moving average is $15.22. The company has a debt-to-equity ratio of 0.82, a quick ratio of 11.16 and a current ratio of 11.73. The firm has a market cap of $707.90 million, a PE ratio of -6.67 and a beta of 1.60.

Insider Activity at Cryoport

In related news, Director Ramkumar Mandalam sold 3,217 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $14.68, for a total value of $47,225.56. Following the sale, the director now owns 43,187 shares in the company, valued at approximately $633,985.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Jerrell Shelton sold 3,723 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $16.35, for a total transaction of $60,871.05. Following the completion of the sale, the chief executive officer now directly owns 636,951 shares in the company, valued at approximately $10,414,148.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ramkumar Mandalam sold 3,217 shares of Cryoport stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $14.68, for a total value of $47,225.56. Following the sale, the director now directly owns 43,187 shares in the company, valued at $633,985.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,940 shares of company stock worth $1,147,538. Company insiders own 10.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CYRX. Stephens reiterated an “equal weight” rating and issued a $17.00 price objective on shares of Cryoport in a research report on Wednesday, March 13th. UBS Group boosted their target price on Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. B. Riley cut Cryoport from a “buy” rating to a “neutral” rating and cut their target price for the company from $22.00 to $19.00 in a research note on Friday, May 3rd. Jefferies Financial Group assumed coverage on Cryoport in a research note on Thursday, April 4th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Cryoport in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.25.

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.