Norges Bank Makes New $2.71 Million Investment in Cryoport, Inc. (NASDAQ:CYRX)

Norges Bank purchased a new stake in shares of Cryoport, Inc. (NASDAQ:CYRX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 348,500 shares of the company's stock, valued at approximately $2,711,000. Norges Bank owned approximately 0.71% of Cryoport at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CYRX. Rhumbline Advisers grew its position in shares of Cryoport by 2.9% during the 4th quarter. Rhumbline Advisers now owns 63,284 shares of the company's stock valued at $492,000 after purchasing an additional 1,764 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Cryoport by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 387,714 shares of the company's stock valued at $3,144,000 after purchasing an additional 2,226 shares during the period. Penbrook Management LLC grew its holdings in Cryoport by 6.0% in the 4th quarter. Penbrook Management LLC now owns 52,570 shares of the company's stock worth $409,000 after acquiring an additional 2,975 shares during the last quarter. American Century Companies Inc. increased its holdings in Cryoport by 12.0% during the 4th quarter. American Century Companies Inc. now owns 51,443 shares of the company's stock valued at $400,000 after purchasing an additional 5,508 shares during the period. Finally, Avanza Fonder AB bought a new position in shares of Cryoport during the fourth quarter valued at approximately $64,000. 92.90% of the stock is owned by institutional investors.

Cryoport Stock Performance

Shares of NASDAQ CYRX traded down $0.15 during trading on Wednesday, hitting $5.48. The company had a trading volume of 83,272 shares, compared to its average volume of 541,071. Cryoport, Inc. has a 12 month low of $4.58 and a 12 month high of $17.41. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70. The firm has a market capitalization of $273.26 million, a P/E ratio of -1.62 and a beta of 1.81. The stock has a 50 day simple moving average of $6.06 and a 200 day simple moving average of $7.07.

Cryoport (NASDAQ:CYRX - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.09). Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. The firm had revenue of $59.53 million during the quarter, compared to the consensus estimate of $58.71 million. During the same period in the prior year, the company posted ($0.29) EPS. As a group, analysts anticipate that Cryoport, Inc. will post -0.99 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Guggenheim started coverage on Cryoport in a research report on Thursday, December 19th. They set a "buy" rating and a $11.00 price objective on the stock. Roth Mkm reiterated a "buy" rating and set a $15.00 price target on shares of Cryoport in a report on Tuesday, April 1st. UBS Group lifted their price objective on Cryoport from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $11.00 target price on shares of Cryoport in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $11.83.

Insider Activity

In other news, CEO Jerrell Shelton sold 4,620 shares of Cryoport stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $6.29, for a total value of $29,059.80. Following the sale, the chief executive officer now directly owns 765,399 shares of the company's stock, valued at approximately $4,814,359.71. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 19,830 shares of company stock worth $118,353 over the last quarter. 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.