Cryoport, Inc. (NASDAQ:CYRX) CEO Sells $339,000.00 in Stock

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

Cryoport Trading Up 0.1 %

NASDAQ CYRX opened at $6.58 on Friday. The company’s 50-day moving average price is $7.54 and its 200-day moving average price is $8.73. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48. The stock has a market cap of $325.01 million, a PE ratio of -1.95 and a beta of 1.63. Cryoport, Inc. has a 12 month low of $5.32 and a 12 month high of $20.10.

Cryoport declared that its Board of Directors has initiated a stock buyback program on Tuesday, August 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 49.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on CYRX. Needham & Company LLC lowered their target price on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock 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 on the stock in a report on Friday, November 8th. UBS Group boosted their target price on shares of Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. B. Riley raised shares of Cryoport from a “neutral” rating to a “buy” rating and decreased their price target for the company from $19.00 to $15.00 in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group downgraded shares of Cryoport from a “buy” rating to a “hold” rating and decreased their price target 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 MarketBeat, Cryoport presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CYRX. Comerica Bank lifted its position in shares of Cryoport by 73.0% during the first 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 last quarter. Quest Partners LLC lifted 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 buying an additional 10,830 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Cryoport during the third quarter valued at about $82,000. Hsbc Holdings PLC purchased a new stake in shares of Cryoport during the second quarter valued at about $92,000. Finally, 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 valued at $95,000 after buying an additional 4,014 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors.

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.