JPMorgan Chase & Co. Increases Stake in Cryoport, Inc. (NASDAQ:CYRX)

JPMorgan Chase & Co. increased its stake in shares of Cryoport, Inc. (NASDAQ:CYRX - Free Report) by 1,464.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 305,237 shares of the company's stock after buying an additional 285,726 shares during the period. JPMorgan Chase & Co. owned about 0.62% of Cryoport worth $2,475,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CYRX. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Cryoport during the 3rd quarter worth approximately $82,000. Intech Investment Management LLC bought a new position in Cryoport during the third quarter valued at $105,000. Hsbc Holdings PLC purchased a new stake in Cryoport in the second quarter worth $92,000. The Manufacturers Life Insurance Company raised its stake in shares of Cryoport by 9.5% in 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 period. Finally, XTX Topco Ltd purchased a new position in shares of Cryoport during the 2nd quarter valued at $198,000. Institutional investors own 92.90% of the company's stock.

Analyst Upgrades and Downgrades

CYRX has been the topic of a number of research reports. Roth Mkm lowered their price objective on Cryoport from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. UBS Group boosted their price target on shares of Cryoport from $7.00 to $9.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Guggenheim assumed coverage on shares of Cryoport in a report on Thursday, December 19th. They issued a "buy" rating and a $11.00 price objective for the company. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price objective on shares of Cryoport in a research note on Friday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Cryoport currently has an average rating of "Moderate Buy" and a consensus target price of $12.29.

Cryoport Price Performance

NASDAQ:CYRX traded up $0.66 during trading hours on Tuesday, hitting $8.16. The stock had a trading volume of 291,864 shares, compared to its average volume of 297,055. The company has a 50 day simple moving average of $7.68 and a two-hundred day simple moving average of $7.90. The firm has a market capitalization of $403.35 million, a price-to-earnings ratio of -2.41 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. Cryoport, Inc. has a one year low of $5.32 and a one year high of $20.10.

Cryoport (NASDAQ:CYRX - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.23. Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. The business had revenue of $56.66 million during the quarter, compared to analysts' expectations of $58.13 million. During the same period in the previous year, the business earned ($0.31) earnings per share. Research analysts forecast that Cryoport, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jerrell Shelton sold 50,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the transaction, the chief executive officer now directly owns 731,897 shares in the company, valued at approximately $4,764,649.47. This represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ramkumar Mandalam sold 7,369 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $7.46, for a total value of $54,972.74. Following the transaction, the director now directly owns 59,497 shares in the company, valued at approximately $443,847.62. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,869 shares of company stock worth $735,673. Insiders own 10.10% of the company's stock.

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.