WCM Investment Management LLC Has $3.30 Million Stake in Cryoport, Inc. (NASDAQ:CYRX)

WCM Investment Management LLC reduced its position in Cryoport, Inc. (NASDAQ:CYRX) by 11.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 412,300 shares of the company’s stock after selling 55,863 shares during the quarter. WCM Investment Management LLC owned approximately 0.83% of Cryoport worth $3,298,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Comerica Bank boosted its position in shares of Cryoport by 73.0% during the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after acquiring an additional 1,469 shares in the last quarter. Quest Partners LLC lifted its stake in Cryoport by 1,083,000.0% during the second quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock worth $75,000 after purchasing an additional 10,830 shares during the period. Hsbc Holdings PLC acquired a new stake in Cryoport during the second quarter valued at approximately $92,000. Lazard Asset Management LLC grew its stake 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 valued at $95,000 after purchasing an additional 4,014 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Cryoport by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock worth $122,000 after buying an additional 1,534 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Cryoport Price Performance

Cryoport stock opened at $8.03 on Tuesday. The stock has a market cap of $396.76 million, a price-to-earnings ratio of -2.38 and a beta of 1.63. Cryoport, Inc. has a 12-month low of $5.32 and a 12-month 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. The business’s 50-day simple moving average is $7.71 and its 200 day simple moving average is $9.15.

Cryoport declared that its board has initiated a stock buyback program on Tuesday, August 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 49.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently commented on CYRX shares. UBS Group boosted their price target on Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. B. Riley upgraded shares of Cryoport from a “neutral” rating to a “buy” rating and reduced their target price for the company from $19.00 to $15.00 in a research note on Wednesday, July 31st. Jefferies Financial Group lowered shares of Cryoport from a “buy” rating to a “hold” rating and lowered their target price for the stock from $20.00 to $8.00 in a report on Wednesday, August 7th. Roth Mkm cut their price target on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday. Finally, Needham & Company LLC decreased their price objective on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cryoport currently has an average rating of “Moderate Buy” and an average target price of $12.50.

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.