Greenwood Capital Associates LLC Raises Position in Cryoport, Inc. (NASDAQ:CYRX)

Greenwood Capital Associates LLC grew its holdings in shares of Cryoport, Inc. (NASDAQ:CYRX) by 134.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 79,333 shares of the company’s stock after purchasing an additional 45,488 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Cryoport were worth $643,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Evanson Asset Management LLC acquired a new position in shares of Cryoport in the 3rd quarter valued at $406,000. SG Americas Securities LLC increased its position in shares of Cryoport by 278.6% in the 3rd quarter. SG Americas Securities LLC now owns 101,359 shares of the company’s stock valued at $822,000 after acquiring an additional 74,590 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Cryoport in the 2nd quarter valued at $378,000. The Manufacturers Life Insurance Company increased its position in shares of Cryoport by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock valued at $122,000 after acquiring an additional 1,534 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Cryoport in the 2nd quarter valued at $207,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Cryoport Price Performance

Shares of CYRX opened at $8.15 on Wednesday. The business’s 50-day moving average is $7.80 and its two-hundred day moving average is $9.38. The company has a market capitalization of $402.71 million, a P/E ratio of -2.22 and a beta of 1.63. The company has a debt-to-equity ratio of 0.97, a quick ratio of 7.99 and a current ratio of 8.38. Cryoport, Inc. has a fifty-two week low of $5.32 and a fifty-two week high of $20.10.

Cryoport (NASDAQ:CYRX) last posted its earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($1.25). Cryoport had a negative return on equity of 15.55% and a negative net margin of 76.48%. The firm had revenue of $57.60 million for the quarter, compared to analysts’ expectations of $57.65 million. During the same period in the previous year, the company earned ($0.42) earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. Research analysts predict that Cryoport, Inc. will post -1.65 earnings per share for the current year.

Cryoport announced that its board has initiated a stock repurchase program on Tuesday, August 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 49.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on CYRX shares. B. Riley raised Cryoport from a “neutral” rating to a “buy” rating and cut their target price for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. UBS Group upped their target price on Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Jefferies Financial Group downgraded Cryoport from a “buy” rating to a “hold” rating and cut their price target for the stock from $20.00 to $8.00 in a research report on Wednesday, August 7th. Finally, Needham & Company LLC cut their price target on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Cryoport currently has an average rating of “Hold” and a consensus target price of $12.00.

About Cryoport

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.