Insider Selling: Cryoport, Inc. (NASDAQ:CYRX) Director Sells 7,369 Shares of Stock

Cryoport, Inc. (NASDAQ:CYRX) Director Ramkumar Mandalam sold 7,369 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $7.46, for a total value of $54,972.74. Following the completion of the transaction, the director now directly owns 59,497 shares in the company, valued at $443,847.62. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cryoport Price Performance

Shares of CYRX traded up $0.06 on Wednesday, reaching $7.50. The stock had a trading volume of 275,702 shares, compared to its average volume of 565,274. The firm has a 50-day moving average of $7.35 and a 200 day moving average of $8.27. The firm has a market capitalization of $370.73 million, a PE ratio of -2.20 and a beta of 1.62. Cryoport, Inc. has a twelve month low of $5.32 and a twelve month high of $20.10. 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 declared that its board has initiated a stock repurchase program on Tuesday, August 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 49.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Cryoport

Several institutional investors and hedge funds have recently made changes to their positions in CYRX. Price T Rowe Associates Inc. MD raised its position in Cryoport by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company’s stock worth $859,000 after acquiring an additional 1,438 shares during the last quarter. Comerica Bank raised 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 worth $62,000 after purchasing an additional 1,469 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Cryoport by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock valued at $122,000 after buying an additional 1,534 shares in the last quarter. Rhumbline Advisers grew its holdings in Cryoport by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock valued at $443,000 after buying an additional 2,086 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Cryoport by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 387,714 shares of the company’s stock worth $3,144,000 after buying an additional 2,226 shares in the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CYRX. UBS Group increased their price target on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Jefferies Financial Group downgraded Cryoport from a “buy” rating to a “hold” rating and dropped their price target for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. Roth Mkm reduced their price target on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Needham & Company LLC decreased their price objective on Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cryoport presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

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.