Healthcare of Ontario Pension Plan Trust Fund Sells 133,700 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in shares of Cryoport, Inc. (NASDAQ:CYRX - Free Report) by 30.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 307,000 shares of the company's stock after selling 133,700 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.62% of Cryoport worth $2,121,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cadian Capital Management LP increased its stake in shares of Cryoport by 30.4% in the fourth quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company's stock valued at $53,659,000 after buying an additional 807,340 shares during the period. AXA S.A. increased its position in Cryoport by 274.2% in the 2nd quarter. AXA S.A. now owns 873,217 shares of the company's stock valued at $6,034,000 after acquiring an additional 639,855 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Cryoport by 52.9% during 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 during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Cryoport during the first quarter worth $2,905,000. Finally, Federated Hermes Inc. bought a new stake in shares of Cryoport in the second quarter worth $774,000. Institutional investors own 92.90% of the company's stock.

Cryoport Stock Down 0.1 %

NASDAQ CYRX traded down $0.01 during mid-day trading on Monday, hitting $7.88. The company's stock had a trading volume of 253,214 shares, compared to its average volume of 589,119. The firm has a market capitalization of $388.15 million, a price-to-earnings ratio of -3.19 and a beta of 1.60. The company's 50 day simple moving average is $8.40 and its 200 day simple moving average is $10.95. The company has a current ratio of 8.38, a quick ratio of 7.99 and a debt-to-equity ratio of 0.97. Cryoport, Inc. has a twelve month low of $5.32 and a twelve month high of $20.10.

Cryoport (NASDAQ:CYRX - Get Free Report) last posted 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). The business had revenue of $57.60 million for the quarter, compared to the consensus estimate of $57.65 million. Cryoport had a negative return on equity of 15.55% and a negative net margin of 76.48%. The company's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.42) earnings per share. Analysts anticipate that Cryoport, Inc. will post -1.63 earnings per share for the current year.

Cryoport declared 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 repurchase up to 49.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

CYRX has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered Cryoport from a "buy" rating to a "hold" rating and cut their price objective for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. 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 note on Wednesday, August 7th. UBS Group cut their price target on Cryoport from $17.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Finally, B. Riley upgraded shares of Cryoport from a "neutral" rating to a "buy" rating and lowered their price objective for the company 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 given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $11.60.

Insider Activity at Cryoport

In other Cryoport news, Director Ramkumar Mandalam sold 4,167 shares of the firm's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.04, for a total transaction of $33,502.68. Following the transaction, the director now directly owns 56,032 shares in the company, valued at approximately $450,497.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 7,167 shares of company stock valued at $60,363 over the last 90 days. Insiders own 10.10% of the company's stock.

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.