Cryoport, Inc. (NASDAQ:CYRX) Short Interest Up 7.2% in October

Cryoport, Inc. (NASDAQ:CYRX - Get Free Report) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 2,820,000 shares, a growth of 7.2% from the September 30th total of 2,630,000 shares. Approximately 5.9% of the company's stock are short sold. Based on an average daily volume of 552,200 shares, the short-interest ratio is presently 5.1 days.

Institutional Investors Weigh In On Cryoport

A number of large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its position in Cryoport by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,035,586 shares of the company's stock valued at $14,066,000 after buying an additional 52,103 shares during the period. Assenagon Asset Management S.A. increased its holdings in Cryoport by 52.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company's stock worth $10,211,000 after buying an additional 511,064 shares in the last quarter. AXA S.A. grew 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 worth $6,034,000 after acquiring an additional 639,855 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Cryoport in the 1st quarter worth approximately $7,800,000. Finally, Silvercrest Asset Management Group LLC lifted its holdings in shares of Cryoport by 4.5% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 417,031 shares of the company's stock valued at $7,381,000 after buying an additional 18,088 shares during the period. Institutional investors own 92.90% of the company's stock.

Cryoport Price Performance

NASDAQ:CYRX traded up $0.49 during mid-day trading on Friday, reaching $7.15. The stock had a trading volume of 357,199 shares, compared to its average volume of 570,720. The stock has a market capitalization of $353.28 million, a P/E ratio of -1.95 and a beta of 1.60. Cryoport has a one year low of $5.32 and a one year high of $20.10. The firm has a 50 day moving average price of $7.88 and a two-hundred day moving average price of $9.67. 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 (NASDAQ:CYRX - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share for the quarter, missing the consensus estimate 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 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) earnings per share. The company's revenue was up 1.0% compared to the same quarter last year. As a group, analysts expect that Cryoport will post -1.65 earnings per share for the current year.

Cryoport declared that its Board of Directors has approved a share 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 typically an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CYRX shares. UBS Group boosted their price target on shares of Cryoport from $7.00 to $9.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Jefferies Financial Group cut Cryoport from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $20.00 to $8.00 in a report on Wednesday, August 7th. B. Riley upgraded shares of Cryoport from a "neutral" rating to a "buy" rating and cut their price objective for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. Finally, Needham & Company LLC lowered their price objective 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.