Squarepoint Ops LLC Purchases Shares of 51,400 Cryoport, Inc. (NASDAQ:CYRX)

Squarepoint Ops LLC purchased a new stake in Cryoport, Inc. (NASDAQ:CYRX) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 51,400 shares of the company’s stock, valued at approximately $355,000. Squarepoint Ops LLC owned approximately 0.10% of Cryoport as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CYRX. Massachusetts Financial Services Co. MA lifted its holdings in shares of Cryoport by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,035,586 shares of the company’s stock valued at $14,066,000 after purchasing an additional 52,103 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Cryoport by 52.9% in the 2nd 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Cryoport in the 1st quarter worth approximately $7,800,000. Silvercrest Asset Management Group LLC grew its position in Cryoport by 4.5% during 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 during the last quarter. Finally, Connors Investor Services Inc. increased its stake in Cryoport by 26.3% during the 2nd quarter. Connors Investor Services Inc. now owns 175,588 shares of the company’s stock valued at $1,213,000 after purchasing an additional 36,512 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Cryoport Stock Down 1.6 %

Shares of CYRX opened at $6.67 on Friday. The stock’s 50-day moving average price is $8.27 and its 200-day moving average price is $10.81. The company has a market capitalization of $328.54 million, a price-to-earnings ratio of -2.70 and a beta of 1.60. Cryoport, Inc. has a 52 week low of $5.32 and a 52 week high of $20.10. The company has a quick ratio of 7.99, a current ratio of 8.38 and a debt-to-equity ratio of 0.97.

Cryoport (NASDAQ:CYRX) last issued its quarterly earnings results 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). The firm had revenue of $57.60 million during the quarter, compared to analyst estimates of $57.65 million. Cryoport had a negative return on equity of 15.55% and a negative net margin of 76.48%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.42) earnings per share. On average, sell-side analysts predict that Cryoport, Inc. will post -1.63 EPS for the current year.

Cryoport declared that its board has approved a share repurchase plan on Tuesday, August 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 49.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

CYRX has been the subject of several research reports. Needham & Company LLC lowered their price objective on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group cut Cryoport from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. B. Riley upgraded Cryoport from a “neutral” rating to a “buy” rating and dropped their target price for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. Finally, UBS Group reduced their price target on shares of Cryoport from $17.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Three 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 presently has an average rating of “Hold” and an average price target of $11.60.

Insider Transactions at Cryoport

In other Cryoport news, Director Ramkumar Mandalam sold 4,167 shares of Cryoport stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $8.04, for a total value of $33,502.68. Following the completion of the transaction, the director now directly owns 56,032 shares of the company’s stock, valued at $450,497.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 7,167 shares of company stock worth $60,363 in the last 90 days. 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.