Impax Asset Management Group plc Sells 1,957,008 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Impax Asset Management Group plc lessened its holdings in shares of Cryoport, Inc. (NASDAQ:CYRX - Free Report) by 89.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 237,375 shares of the company's stock after selling 1,957,008 shares during the period. Impax Asset Management Group plc owned 0.48% of Cryoport worth $1,925,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. AXA S.A. lifted its holdings in Cryoport by 274.2% during the 2nd quarter. AXA S.A. now owns 873,217 shares of the company's stock worth $6,034,000 after buying an additional 639,855 shares during the period. Federated Hermes Inc. bought a new position in shares of Cryoport during the second quarter worth 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 worth $10,211,000 after acquiring an additional 511,064 shares during the period. SG Americas Securities LLC boosted its holdings in Cryoport by 278.6% in the third 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 last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Cryoport during the 2nd quarter valued at approximately $378,000. Institutional investors own 92.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CYRX shares. Roth Mkm dropped their price target on shares of Cryoport from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group cut shares of Cryoport from a "buy" rating to a "hold" rating and cut their price target for the company from $20.00 to $8.00 in a research report on Wednesday, August 7th. Needham & Company LLC lowered their price objective on Cryoport from $18.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. B. Riley raised Cryoport from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $19.00 to $15.00 in a research note on Wednesday, July 31st. Finally, UBS Group raised their target price on Cryoport from $7.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.50.

Cryoport Stock Down 5.3 %

Shares of CYRX stock traded down $0.39 on Friday, reaching $6.99. 511,540 shares of the company were exchanged, compared to its average volume of 396,197. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. The company has a 50-day moving average of $7.63 and a 200-day moving average of $8.90. The company has a market cap of $345.52 million, a price-to-earnings ratio of -2.07 and a beta of 1.63. Cryoport, Inc. has a one year low of $5.32 and a one year high of $20.10.

Cryoport announced that its board has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 49.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

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.