Allspring Global Investments Holdings LLC Sells 154,405 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Allspring Global Investments Holdings LLC reduced its position in shares of Cryoport, Inc. (NASDAQ:CYRX - Free Report) by 94.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,735 shares of the company's stock after selling 154,405 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Cryoport were worth $67,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Cryoport by 13.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 169,155 shares of the company's stock worth $1,169,000 after buying an additional 19,803 shares during the period. Assenagon Asset Management S.A. boosted its holdings in 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 acquiring an additional 511,064 shares in the last quarter. SG Americas Securities LLC purchased a new position in Cryoport during the 2nd quarter valued at $185,000. Comerica Bank raised its holdings in Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company's stock worth $62,000 after purchasing an additional 1,469 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in Cryoport by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 417,031 shares of the company's stock worth $7,381,000 after purchasing an additional 18,088 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

Cryoport Stock Performance

Shares of CYRX traded down $0.47 during mid-day trading on Monday, reaching $7.70. The company had a trading volume of 1,023,024 shares, compared to its average volume of 611,617. The company has a debt-to-equity ratio of 0.97, a quick ratio of 7.99 and a current ratio of 8.38. The firm has a 50-day moving average price of $8.19 and a 200 day moving average price of $12.17. Cryoport, Inc. has a 52 week low of $5.32 and a 52 week high of $20.10.

Cryoport (NASDAQ:CYRX - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($1.62) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $57.65 million. During the same period last year, the firm posted ($0.42) earnings per share. The company's revenue was up 1.0% compared to the same quarter last year. Equities research analysts forecast that Cryoport, Inc. will post -1.34 EPS for the current fiscal year.

Insider Buying and Selling at Cryoport

In other news, Director Ramkumar Mandalam sold 4,167 shares of the company's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.04, for a total value of $33,502.68. Following the transaction, the director now owns 56,032 shares in the company, valued at $450,497.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 7,167 shares of company stock worth $60,363. 10.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. B. Riley upgraded shares of Cryoport from a "neutral" rating to a "buy" rating and reduced their price target for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. UBS Group reduced their target price on Cryoport from $17.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group cut Cryoport from a "buy" rating to a "hold" rating and lowered their target price for the company from $20.00 to $8.00 in a research note on Wednesday, August 7th. Finally, Needham & Company LLC dropped their price target 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $11.60.

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.