Robert J. Hariri Sells 2,500 Shares of Cryoport, Inc. (NASDAQ:CYRX) Stock

Cryoport, Inc. (NASDAQ:CYRX) Director Robert J. Hariri sold 2,500 shares of Cryoport stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $6.48, for a total value of $16,200.00. Following the sale, the director now directly owns 20,561 shares of the company’s stock, valued at $133,235.28. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cryoport Stock Down 4.4 %

Shares of CYRX opened at $7.44 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70. Cryoport, Inc. has a one year low of $5.32 and a one year high of $20.10. The stock has a market capitalization of $367.76 million, a price-to-earnings ratio of -2.20 and a beta of 1.62. The stock has a 50 day moving average price of $7.36 and a 200 day moving average price of $8.31.

Cryoport announced that its Board of Directors has initiated a stock buyback plan on Tuesday, August 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 49.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

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

Institutional Trading of Cryoport

Several large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in Cryoport by 3.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company’s stock valued at $859,000 after buying an additional 1,438 shares in the last quarter. Comerica Bank grew its holdings in 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 in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Cryoport by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock worth $122,000 after purchasing an additional 1,534 shares during the period. Rhumbline Advisers grew its holdings in shares of Cryoport by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock worth $443,000 after purchasing an additional 2,086 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Cryoport by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 387,714 shares of the company’s stock worth $3,144,000 after purchasing an additional 2,226 shares during the period. 92.90% of the stock is currently owned by hedge funds and other 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.