SG Americas Securities LLC Buys 74,590 Shares of Cryoport, Inc. (NASDAQ:CYRX)

SG Americas Securities LLC increased its stake in shares of Cryoport, Inc. (NASDAQ:CYRX - Free Report) by 278.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,359 shares of the company's stock after acquiring an additional 74,590 shares during the quarter. SG Americas Securities LLC owned approximately 0.21% of Cryoport worth $822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of CYRX. AXA S.A. increased its holdings in Cryoport by 274.2% during the 2nd quarter. AXA S.A. now owns 873,217 shares of the company's stock valued at $6,034,000 after purchasing an additional 639,855 shares during the period. Assenagon Asset Management S.A. grew 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 worth $10,211,000 after purchasing an additional 511,064 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Cryoport during the first quarter valued at approximately $7,800,000. Allspring Global Investments Holdings LLC bought a new position in shares of Cryoport during the first quarter valued at approximately $2,905,000. Finally, Federated Hermes Inc. bought a new stake in shares of Cryoport in the 2nd quarter worth approximately $774,000. Institutional investors own 92.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. B. Riley raised Cryoport from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $19.00 to $15.00 in a report on Wednesday, July 31st. UBS Group reduced their price objective on shares of Cryoport from $17.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group downgraded shares of Cryoport from a "buy" rating to a "hold" rating and dropped their target price for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reduced their price target on shares of Cryoport from $18.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $11.60.

Cryoport Stock Performance

Shares of CYRX traded up $0.31 during mid-day trading on Friday, hitting $6.98. 597,225 shares of the company traded hands, compared to its average volume of 591,103. The stock has a market cap of $343.81 million, a price-to-earnings ratio of -2.83 and a beta of 1.60. The stock has a 50-day moving average price of $8.25 and a two-hundred day moving average price of $10.64. Cryoport, Inc. has a 1 year low of $5.32 and a 1 year high of $20.10. 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 posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $57.60 million during the quarter, compared to analysts' expectations of $57.65 million. During the same period in the previous year, the business posted ($0.42) EPS. The business's quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Cryoport, Inc. will post -1.63 earnings per share for the current year.

Cryoport announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 49.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Cryoport

In other Cryoport news, Director Ramkumar Mandalam sold 4,167 shares of Cryoport stock in a transaction 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 sale, the director now directly owns 56,032 shares in the company, valued at approximately $450,497.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 7,167 shares of company stock valued at $60,363 over the last 90 days. 10.10% of the stock is currently owned by corporate insiders.

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.