Greenwood Capital Associates LLC Acquires 45,488 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Greenwood Capital Associates LLC grew its holdings in shares of Cryoport, Inc. (NASDAQ:CYRX) by 134.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,333 shares of the company’s stock after buying an additional 45,488 shares during the quarter. Greenwood Capital Associates LLC owned 0.16% of Cryoport worth $643,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Comerica Bank grew its stake in shares of Cryoport by 73.0% during the first quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after buying an additional 1,469 shares during the last quarter. Quest Partners LLC grew its stake in shares of Cryoport by 1,083,000.0% during the second quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock valued at $75,000 after buying an additional 10,830 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Cryoport during the second quarter valued at approximately $92,000. Lazard Asset Management LLC grew its stake in shares of Cryoport by 294.3% during the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock valued at $95,000 after buying an additional 4,014 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Cryoport by 9.5% during the second quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock valued at $122,000 after buying an additional 1,534 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

Cryoport Stock Up 6.3 %

Cryoport stock opened at $8.15 on Wednesday. The business has a fifty day moving average of $7.80 and a two-hundred day moving average of $9.38. The company has a quick ratio of 7.99, a current ratio of 8.38 and a debt-to-equity ratio of 0.97. The firm has a market cap of $402.71 million, a P/E ratio of -2.22 and a beta of 1.63. Cryoport, Inc. has a twelve month low of $5.32 and a twelve month high of $20.10.

Cryoport (NASDAQ:CYRX) last posted its earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $57.60 million for the quarter, compared to analysts’ expectations of $57.65 million. During the same quarter in the prior year, the company earned ($0.42) EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts forecast that Cryoport, Inc. will post -1.65 earnings per share for the current fiscal year.

Cryoport announced that its Board of Directors has approved a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 49.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

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

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.