Short Interest in Cryoport, Inc. (NASDAQ:CYRX) Decreases By 5.5%

Cryoport, Inc. (NASDAQ:CYRX) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 2,080,000 shares, a drop of 5.5% from the December 15th total of 2,200,000 shares. Approximately 4.4% of the company’s shares are sold short. Based on an average trading volume of 405,400 shares, the days-to-cover ratio is presently 5.1 days.

Analysts Set New Price Targets

Several research firms have commented on CYRX. Guggenheim began coverage on shares of Cryoport in a report on Thursday, December 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Roth Mkm decreased their price objective 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. UBS Group upped their price objective on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Cryoport in a research report on Friday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.29.

Cryoport Trading Up 0.1 %

CYRX opened at $7.50 on Friday. Cryoport has a twelve month low of $5.32 and a twelve month high of $20.10. The company has a 50-day simple moving average of $7.68 and a 200 day simple moving average of $7.86. 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 stock has a market capitalization of $370.73 million, a price-to-earnings ratio of -2.22 and a beta of 1.58.

Insider Buying and Selling

In other Cryoport news, CEO Jerrell Shelton sold 50,000 shares of Cryoport stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $6.51, for a total value of $325,500.00. Following the transaction, the chief executive officer now owns 731,897 shares of the company’s stock, valued at approximately $4,764,649.47. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ramkumar Mandalam sold 7,369 shares of Cryoport stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $7.46, for a total transaction of $54,972.74. Following the completion of the transaction, the director now directly owns 59,497 shares in the company, valued at approximately $443,847.62. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,869 shares of company stock valued at $735,673 in the last 90 days. 10.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Cryoport

Several institutional investors and hedge funds have recently bought and sold shares of CYRX. AXA S.A. lifted its holdings in shares of Cryoport by 274.2% in the second quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after acquiring an additional 639,855 shares during the last quarter. Bullseye Asset Management LLC lifted its holdings in shares of Cryoport by 58.7% in the third quarter. Bullseye Asset Management LLC now owns 214,264 shares of the company’s stock worth $1,737,000 after acquiring an additional 79,244 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Cryoport in the second quarter worth about $774,000. Point72 Asset Management L.P. bought a new position in shares of Cryoport in the third quarter worth about $3,405,000. Finally, Barclays PLC lifted its holdings in shares of Cryoport by 272.9% in the third quarter. Barclays PLC now owns 81,417 shares of the company’s stock worth $660,000 after acquiring an additional 59,582 shares during the last quarter. 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.