Granite Investment Partners LLC lowered its stake in Cryoport, Inc. (NASDAQ:CYRX – Get Rating) by 17.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 917,864 shares of the consumer goods maker's stock after selling 198,953 shares during the quarter. Cryoport comprises about 1.2% of Granite Investment Partners LLC's portfolio, making the stock its 13th biggest holding. Granite Investment Partners LLC owned about 1.86% of Cryoport worth $28,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently bought and sold shares of CYRX. Harbor Investment Advisory LLC lifted its position in Cryoport by 69.7% in the second quarter. Harbor Investment Advisory LLC now owns 886 shares of the consumer goods maker's stock valued at $27,000 after buying an additional 364 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Cryoport by 132.3% during the first quarter. First Horizon Advisors Inc. now owns 1,080 shares of the consumer goods maker's stock worth $38,000 after purchasing an additional 615 shares during the period. State of Tennessee Treasury Department purchased a new stake in Cryoport during the first quarter worth about $168,000. Fox Run Management L.L.C. purchased a new stake in Cryoport during the first quarter worth about $226,000. Finally, First Bank & Trust increased its stake in Cryoport by 44.3% during the first quarter. First Bank & Trust now owns 6,767 shares of the consumer goods maker's stock worth $237,000 after purchasing an additional 2,079 shares during the period. Institutional investors and hedge funds own 90.33% of the company's stock.
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CYRX stock opened at $24.36 on Monday. The company's 50 day moving average price is $34.45 and its 200 day moving average price is $30.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 13.69 and a current ratio of 14.21. Cryoport, Inc. has a fifty-two week low of $19.82 and a fifty-two week high of $86.30. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.94 and a beta of 1.27.
Cryoport (NASDAQ:CYRX – Get Rating) last released its earnings results on Thursday, August 4th. The consumer goods maker reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.08). Cryoport had a negative return on equity of 14.43% and a negative net margin of 125.96%. The firm had revenue of $64.20 million for the quarter, compared to analysts' expectations of $64.58 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The firm's quarterly revenue was up 14.2% on a year-over-year basis. On average, equities research analysts anticipate that Cryoport, Inc. will post -0.78 EPS for the current fiscal year.Wall Street Analysts Forecast Growth
Separately, Needham & Company LLC boosted their price target on shares of Cryoport from $41.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, July 12th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $61.33.
Insider Buying and Selling
In related news, Director Robert J. Hariri sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $43.29, for a total transaction of $86,580.00. Following the sale, the director now directly owns 7,911 shares in the company, valued at $342,467.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Richard J. Berman sold 2,708 shares of the company's stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $43.05, for a total value of $116,579.40. Following the completion of the transaction, the director now directly owns 107,203 shares of the company's stock, valued at $4,615,089.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert J. Hariri sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $43.29, for a total value of $86,580.00. Following the completion of the transaction, the director now directly owns 7,911 shares of the company's stock, valued at $342,467.19. The disclosure for this sale can be found here. Insiders own 9.70% of the company's stock.
Cryoport Profile
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Cryoport, Inc, a life sciences services company, provides temperature-controlled logistics solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking and monitoring, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, which is used to ensure that the stability of shipped biologic commodities is maintained throughout the shipping cycle.
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