Cryoport, Inc. (NASDAQ:CYRX) CEO Sells $325,500.00 in Stock

Cryoport, Inc. (NASDAQ:CYRX) CEO Jerrell Shelton sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the transaction, the chief executive officer now owns 731,897 shares of the company’s stock, valued at $4,764,649.47. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jerrell Shelton also recently made the following trade(s):

• On Tuesday, November 19th, Jerrell Shelton sold 50,000 shares of Cryoport stock. The shares were sold at an average price of $6.78, for a total transaction of $339,000.00.

Cryoport Price Performance

Shares of NASDAQ CYRX opened at $7.09 on Thursday. The stock has a market cap of $350.46 million, a price-to-earnings ratio of -2.10 and a beta of 1.63. Cryoport, Inc. has a 52 week low of $5.32 and a 52 week high of $20.10. The company’s 50-day moving average price is $7.45 and its 200 day moving average price is $8.49. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48.

Cryoport announced that its board has initiated a stock buyback program on Tuesday, August 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 49.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Cryoport

Several hedge funds have recently modified their holdings of CYRX. State Board of Administration of Florida Retirement System boosted its stake in shares of Cryoport by 27.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,638 shares of the company’s stock worth $277,000 after purchasing an additional 3,400 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Cryoport by 294.3% during the 1st quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock worth $95,000 after purchasing an additional 4,014 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Cryoport by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company’s stock worth $859,000 after purchasing an additional 1,438 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Cryoport by 4.5% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 417,031 shares of the company’s stock worth $7,381,000 after purchasing an additional 18,088 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of Cryoport by 73.0% during 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 during the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

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.