Impax Asset Management Group plc Cuts Stock Holdings in Cryoport, Inc. (NASDAQ:CYRX)

Impax Asset Management Group plc lessened its holdings in Cryoport, Inc. (NASDAQ:CYRX) by 89.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 237,375 shares of the company’s stock after selling 1,957,008 shares during the period. Impax Asset Management Group plc owned about 0.48% of Cryoport worth $1,925,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CYRX. Price T Rowe Associates Inc. MD increased its position in Cryoport by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company’s stock valued at $859,000 after buying an additional 1,438 shares in the last quarter. Comerica Bank boosted its stake in Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after purchasing an additional 1,469 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Cryoport by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock worth $122,000 after purchasing an additional 1,534 shares during the last quarter. Rhumbline Advisers grew its position in Cryoport by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock worth $443,000 after purchasing an additional 2,086 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Cryoport by 27.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,638 shares of the company’s stock worth $277,000 after buying an additional 3,400 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors.

Cryoport Trading Down 5.3 %

CYRX stock opened at $6.99 on Friday. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48. Cryoport, Inc. has a 52-week low of $5.32 and a 52-week high of $20.10. The company’s 50-day simple moving average is $7.63 and its 200-day simple moving average is $8.95. The firm has a market cap of $345.52 million, a P/E ratio of -2.07 and a beta of 1.63.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CYRX shares. B. Riley raised Cryoport from a “neutral” rating to a “buy” rating and cut their target price for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. UBS Group lifted their target price on Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Jefferies Financial Group lowered shares of Cryoport from a “buy” rating to a “hold” rating and reduced their price target for the stock from $20.00 to $8.00 in a research report on Wednesday, August 7th. Needham & Company LLC dropped their price objective on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Roth Mkm reduced their target price on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Cryoport 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.