Insider Selling: Cryoport, Inc. (NASDAQ:CYRX) CEO Sells 50,000 Shares of Stock

Cryoport, Inc. (NASDAQ:CYRX) CEO Jerrell Shelton sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $6.78, for a total value of $339,000.00. Following the completion of the transaction, the chief executive officer now owns 712,747 shares in the company, valued at $4,832,424.66. This represents a 6.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Cryoport Stock Performance

NASDAQ CYRX traded down $0.36 during trading on Wednesday, hitting $6.57. The company’s stock had a trading volume of 567,933 shares, compared to its average volume of 567,216. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average price of $7.57 and a 200 day moving average price of $8.75. The firm has a market cap of $324.76 million, a P/E ratio of -1.94 and a beta of 1.63. Cryoport, Inc. has a 52 week low of $5.32 and a 52 week high of $20.10.

Cryoport declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 49.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Cryoport

Institutional investors have recently modified their holdings of the business. Comerica Bank increased its holdings 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. Lazard Asset Management LLC boosted its holdings in Cryoport by 294.3% in the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock worth $95,000 after acquiring an additional 4,014 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Cryoport in the third quarter valued at approximately $82,000. Quest Partners LLC increased its position in shares of Cryoport by 1,083,000.0% during the second quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock valued at $75,000 after acquiring an additional 10,830 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Cryoport in the third quarter valued at $105,000. Institutional investors own 92.90% 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.