Brown Capital Management LLC Lowers Stake in Cryoport, Inc. (NASDAQ:CYRX)

Brown Capital Management LLC decreased its position in Cryoport, Inc. (NASDAQ:CYRX) by 16.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,151,420 shares of the company’s stock after selling 1,035,417 shares during the quarter. Brown Capital Management LLC owned 0.10% of Cryoport worth $41,778,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in shares of Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after buying an additional 1,469 shares during the period. Quest Partners LLC grew its position in Cryoport by 1,083,000.0% in the 2nd 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 in the last quarter. Hsbc Holdings PLC purchased a new stake in Cryoport during the second quarter worth about $92,000. Lazard Asset Management LLC lifted its position in shares of Cryoport by 294.3% during the first 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 in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Cryoport in the third quarter valued at approximately $105,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cryoport news, 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 transaction of $339,000.00. Following the sale, the chief executive officer now owns 712,747 shares of the company’s stock, valued at approximately $4,832,424.66. This trade represents a 6.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.10% of the stock is owned by company insiders.

Cryoport Trading Down 5.3 %

Shares of CYRX stock opened at $6.57 on Thursday. The firm has a fifty day moving average price of $7.57 and a 200 day moving average price of $8.75. 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, Inc. has a 12 month low of $5.32 and a 12 month high of $20.10.

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

Analyst Ratings Changes

CYRX has been the topic of several recent research reports. B. Riley raised 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 note on Wednesday, July 31st. Needham & Company LLC cut their price objective on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Roth Mkm decreased their target price on Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th. UBS Group upped their price target on Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group cut Cryoport from a “buy” rating to a “hold” rating and decreased their price objective for the company from $20.00 to $8.00 in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cryoport currently 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.