Brokers Set Expectations for Cryoport, Inc.’s Q2 2024 Earnings (NASDAQ:CYRX)

Cryoport, Inc. (NASDAQ:CYRX) – Equities research analysts at B. Riley issued their Q2 2024 earnings estimates for shares of Cryoport in a research note issued on Tuesday, July 30th. B. Riley analyst Y. Zhi forecasts that the company will post earnings of ($0.39) per share for the quarter. B. Riley has a “Buy” rating and a $15.00 price objective on the stock. The consensus estimate for Cryoport’s current full-year earnings is ($1.39) per share. B. Riley also issued estimates for Cryoport’s Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.36) EPS and FY2024 earnings at ($1.54) EPS.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Cryoport in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.86.

Cryoport Stock Down 6.7 %

CYRX stock opened at $8.12 on Friday. The firm’s fifty day simple moving average is $8.75 and its 200-day simple moving average is $13.36. The company has a market capitalization of $399.99 million, a P/E ratio of -3.29 and a beta of 1.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 10.73 and a quick ratio of 10.22. Cryoport has a 12 month low of $5.32 and a 12 month high of $20.10.

Cryoport (NASDAQ:CYRX) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.06). The business had revenue of $54.59 million during the quarter, compared to analysts’ expectations of $58.78 million. Cryoport had a negative net margin of 50.17% and a negative return on equity of 15.19%. The firm’s revenue was down 13.1% on a year-over-year basis. During the same period last year, the company earned ($0.16) earnings per share.

Institutional Trading of Cryoport

Several hedge funds have recently added to or reduced their stakes in CYRX. Vanguard Group Inc. raised its holdings in Cryoport by 2.1% in the third quarter. Vanguard Group Inc. now owns 3,559,092 shares of the company’s stock valued at $48,795,000 after acquiring an additional 74,037 shares in the last quarter. Arizona State Retirement System grew its position in shares of Cryoport by 5.4% during the fourth quarter. Arizona State Retirement System now owns 13,665 shares of the company’s stock worth $212,000 after acquiring an additional 696 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in shares of Cryoport by 4.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 70,727 shares of the company’s stock worth $1,096,000 after acquiring an additional 2,825 shares during the last quarter. WCM Investment Management LLC grew its position in shares of Cryoport by 8.0% during the fourth quarter. WCM Investment Management LLC now owns 324,091 shares of the company’s stock worth $5,176,000 after acquiring an additional 24,107 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Cryoport by 29.9% during the fourth quarter. New York State Common Retirement Fund now owns 1,642,752 shares of the company’s stock worth $25,446,000 after acquiring an additional 378,340 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insider Activity at Cryoport

In other Cryoport news, insider Edward J. Zecchini sold 3,443 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $13.37, for a total transaction of $46,032.91. Following the completion of the transaction, the insider now owns 60,051 shares of the company’s stock, valued at $802,881.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Edward J. Zecchini sold 3,443 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $13.37, for a total value of $46,032.91. Following the completion of the transaction, the insider now owns 60,051 shares of the company’s stock, valued at $802,881.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard J. Berman sold 8,105 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $13.41, for a total transaction of $108,688.05. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $1,341,000. The disclosure for this sale can be found here. 10.10% of the stock is currently owned by 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.