Impax Asset Management Group plc Has $1.93 Million Stock Holdings in Cryoport, Inc. (NASDAQ:CYRX)

Impax Asset Management Group plc reduced its holdings in Cryoport, Inc. (NASDAQ:CYRX - Free Report) by 89.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 237,375 shares of the company's stock after selling 1,957,008 shares during the quarter. Impax Asset Management Group plc owned about 0.48% of Cryoport worth $1,925,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CYRX. AXA S.A. lifted its stake in shares of Cryoport by 274.2% in the second quarter. AXA S.A. now owns 873,217 shares of the company's stock valued at $6,034,000 after buying an additional 639,855 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Cryoport by 155.9% in the first quarter. BNP Paribas Financial Markets now owns 82,653 shares of the company's stock valued at $1,463,000 after buying an additional 50,355 shares during the period. Federated Hermes Inc. bought a new stake in shares of Cryoport in the second quarter valued at about $774,000. Assenagon Asset Management S.A. lifted its stake in shares of Cryoport by 52.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company's stock valued at $10,211,000 after buying an additional 511,064 shares during the period. Finally, Inspire Investing LLC bought a new stake in shares of Cryoport in the first quarter valued at about $358,000. 92.90% of the stock is owned by institutional investors and hedge funds.

Cryoport Price Performance

Shares of NASDAQ:CYRX traded down $0.13 during trading on Wednesday, reaching $8.02. The stock had a trading volume of 563,217 shares, compared to its average volume of 568,656. Cryoport, Inc. has a 52 week low of $5.32 and a 52 week high of $20.10. The business's 50-day moving average price is $7.80 and its 200 day moving average price is $9.38. The company has a debt-to-equity ratio of 0.97, a current ratio of 8.38 and a quick ratio of 7.99. The stock has a market capitalization of $396.28 million, a PE ratio of -2.32 and a beta of 1.63.

Cryoport (NASDAQ:CYRX - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($1.25). Cryoport had a negative net margin of 76.48% and a negative return on equity of 15.55%. The firm had revenue of $57.60 million during the quarter, compared to the consensus estimate of $57.65 million. During the same quarter last year, the firm posted ($0.42) EPS. The business's revenue was up 1.0% on a year-over-year basis. As a group, equities analysts predict that Cryoport, Inc. will post -1.65 earnings per share for the current year.

Cryoport announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 49.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

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

Cryoport 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.