Insider Selling: Cryoport, Inc. (NASDAQ:CYRX) CEO Sells 50,000 Shares of Stock

Cryoport, Inc. (NASDAQ:CYRX) CEO Jerrell Shelton sold 50,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $6.51, for a total transaction of $325,500.00. Following the sale, the chief executive officer now directly owns 731,897 shares in the company, valued at approximately $4,764,649.47. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $6.78, for a total value of $339,000.00.

Cryoport Stock Up 1.4 %

CYRX stock traded up $0.09 during trading hours on Monday, hitting $6.65. The company’s stock had a trading volume of 1,640,480 shares, compared to its average volume of 570,977. The company has a market capitalization of $328.71 million, a PE ratio of -1.97 and a beta of 1.63. The stock has a 50 day moving average price of $7.50 and a two-hundred day moving average price of $8.58. 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, Inc. has a 12 month low of $5.32 and a 12 month high of $20.10.

Cryoport declared that its board has authorized a stock buyback plan on Tuesday, August 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 49.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Institutional Trading of Cryoport

Several large investors have recently made changes to their positions in CYRX. Comerica Bank raised its stake 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 acquiring an additional 1,469 shares in the last quarter. Quest Partners LLC grew its holdings in 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 purchasing an additional 10,830 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Cryoport in the third quarter valued at approximately $82,000. Hsbc Holdings PLC acquired a new stake in shares of Cryoport in the second quarter worth $92,000. Finally, Lazard Asset Management LLC boosted its holdings 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 buying an additional 4,014 shares during the period. 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.