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

Cryoport (NASDAQ:CYRX) announced its quarterly earnings results on Tuesday. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06), Briefing.com reports. The company had revenue of $54.59 million during the quarter, compared to analysts’ expectations of $58.78 million. Cryoport had a negative net margin of 42.69% and a negative return on equity of 11.86%. The business’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.16) EPS.

Cryoport Trading Down 10.7 %

NASDAQ CYRX traded down $1.76 during mid-day trading on Wednesday, reaching $14.64. 74,187 shares of the stock were exchanged, compared to its average volume of 438,891. The stock has a market capitalization of $719.70 million, a PE ratio of -6.67 and a beta of 1.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 11.16 and a current ratio of 11.73. Cryoport has a 1-year low of $9.00 and a 1-year high of $23.50. The business’s fifty day simple moving average is $16.93 and its 200 day simple moving average is $15.22.

Insider Buying and Selling at Cryoport

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stephens reaffirmed an “equal weight” rating and issued a $17.00 target price on shares of Cryoport in a report on Wednesday, March 13th. UBS Group lifted their price target on Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Jefferies Financial Group assumed coverage on shares of Cryoport in a report on Thursday, April 4th. They set a “buy” rating and a $21.00 target price for the company. B. Riley downgraded shares of Cryoport from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $19.00 in a report on Friday, May 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Cryoport in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Cryoport presently has an average rating of “Hold” and an average price target 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.