Cryoport (NASDAQ:CYRX) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Cryoport, Inc. (NASDAQ:CYRX)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.82 and traded as high as $8.61. Cryoport shares last traded at $8.51, with a volume of 291,213 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Roth Mkm lowered their target price on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Guggenheim initiated coverage on Cryoport in a research note on Thursday, December 19th. They issued a “buy” rating and a $11.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.29.

Cryoport Trading Down 3.5 %

The firm has a market capitalization of $420.66 million, a PE ratio of -2.52 and a beta of 1.58. 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 firm has a 50 day simple moving average of $7.71 and a 200 day simple moving average of $7.83.

Insider Buying and Selling at Cryoport

In related news, Director Ramkumar Mandalam sold 7,369 shares of Cryoport stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $7.46, for a total value of $54,972.74. Following the completion of the sale, the director now owns 59,497 shares of the company’s stock, valued at $443,847.62. The trade was a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jerrell Shelton sold 50,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $6.78, for a total value 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 approximately $4,832,424.66. This represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,869 shares of company stock worth $735,673. Company insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On Cryoport

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYRX. Quest Partners LLC lifted its position in shares of Cryoport by 1,083,000.0% in the second 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. Dynamic Technology Lab Private Ltd purchased a new position in Cryoport during the 3rd quarter valued at approximately $82,000. Hsbc Holdings PLC purchased a new stake in shares of Cryoport during the 2nd quarter worth approximately $92,000. Intech Investment Management LLC bought a new position in shares of Cryoport during the 3rd quarter valued at approximately $105,000. Finally, The Manufacturers Life Insurance Company boosted its position 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 valued at $122,000 after acquiring an additional 1,534 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.