CryoPort (NASDAQ:CYRX) Downgraded by BidaskClub to Hold

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CryoPort (NASDAQ:CYRX) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Monday, BidAskClub reports.

Shares of CYRX stock opened at $18.70 on Monday. The company has a market cap of $573.64 million, a price-to-earnings ratio of -60.32 and a beta of 0.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 11.52 and a current ratio of 11.57. CryoPort has a fifty-two week low of $8.28 and a fifty-two week high of $19.20.

CryoPort (NASDAQ:CYRX) last announced its quarterly earnings results on Thursday, May 2nd. The consumer goods maker reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm had revenue of $6.65 million for the quarter, compared to analysts’ expectations of $6.56 million. CryoPort had a negative net margin of 41.61% and a negative return on equity of 28.30%. CryoPort’s revenue was up 65.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) earnings per share. As a group, equities research analysts anticipate that CryoPort will post -0.29 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in CryoPort by 1.2% during the fourth quarter. BlackRock Inc. now owns 1,756,166 shares of the consumer goods maker’s stock valued at $19,371,000 after buying an additional 20,596 shares in the last quarter. Pier Capital LLC lifted its position in CryoPort by 48.6% during the first quarter. Pier Capital LLC now owns 505,334 shares of the consumer goods maker’s stock valued at $6,529,000 after buying an additional 165,229 shares in the last quarter. FMR LLC acquired a new position in CryoPort during the fourth quarter valued at approximately $4,556,000. Northern Trust Corp lifted its position in CryoPort by 0.3% during the fourth quarter. Northern Trust Corp now owns 338,111 shares of the consumer goods maker’s stock valued at $3,729,000 after buying an additional 1,028 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in CryoPort by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 302,544 shares of the consumer goods maker’s stock valued at $3,337,000 after buying an additional 14,530 shares in the last quarter. 53.20% of the stock is currently owned by hedge funds and other institutional investors.

About CryoPort

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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