Marathon Capital Management Sells 4,700 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Marathon Capital Management lowered its holdings in Cryoport, Inc. (NASDAQ:CYRX) by 3.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 148,285 shares of the company’s stock after selling 4,700 shares during the quarter. Marathon Capital Management’s holdings in Cryoport were worth $1,025,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Comerica Bank grew its position in shares of Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after buying an additional 1,469 shares during the last quarter. Natixis Investment Managers International grew its position in shares of Cryoport by 61.5% in the 4th quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock worth $70,000 after buying an additional 1,727 shares during the last quarter. Quest Partners LLC grew its position in shares of Cryoport by 1,083,000.0% in the 2nd quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock worth $75,000 after buying an additional 10,830 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Cryoport in the 2nd quarter worth approximately $92,000. Finally, Lazard Asset Management LLC grew its position in shares of Cryoport by 294.3% in the 1st quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock worth $95,000 after buying an additional 4,014 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

Cryoport Stock Up 0.5 %

NASDAQ:CYRX opened at $7.97 on Friday. The company has a market cap of $392.58 million, a PE ratio of -3.23 and a beta of 1.60. Cryoport, Inc. has a twelve month low of $5.32 and a twelve month high of $20.10. The company has a current ratio of 8.38, a quick ratio of 7.99 and a debt-to-equity ratio of 0.97. The company’s 50 day moving average is $8.53 and its two-hundred day moving average is $11.38.

Cryoport (NASDAQ:CYRX) last announced its quarterly earnings data 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 net margin of 76.48% and a negative return on equity of 15.55%. The business had revenue of $57.60 million for the quarter, compared to analyst estimates of $57.65 million. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. Analysts anticipate that Cryoport, Inc. will post -1.63 EPS for the current year.

Cryoport declared that its board has initiated a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 49.1% of its stock through open market purchases. Stock repurchase plans are generally an indication 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 that occurred on Friday, August 2nd. The shares were sold at an average price of $8.04, for a total transaction of $33,502.68. Following the completion of the sale, the director now directly owns 56,032 shares in the company, valued at approximately $450,497.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 7,167 shares of company stock worth $60,363. Company insiders own 10.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CYRX. Needham & Company LLC cut their price objective on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. B. Riley raised shares of 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 research report on Wednesday, July 31st. 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 report on Wednesday, August 7th. Finally, UBS Group dropped their target price on shares of Cryoport from $17.00 to $7.00 and set a “neutral” 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 given a buy rating to the stock. According to MarketBeat.com, the stock 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.