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 dated Tuesday, November 19th. The stock was sold at an average price of $6.78, for a total value of $339,000.00. Following the transaction, the chief executive officer now directly owns 712,747 shares of the company’s stock, valued at $4,832,424.66. This represents a 6.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cryoport Stock Down 5.3 %

Shares of NASDAQ CYRX opened at $6.57 on Thursday. The company’s 50 day simple moving average is $7.57 and its 200 day simple moving average is $8.75. Cryoport, Inc. has a fifty-two week low of $5.32 and a fifty-two week high of $20.10. 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 declared that its board has authorized a stock repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 49.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Cryoport

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of Cryoport by 272.9% in the 3rd quarter. Barclays PLC now owns 81,417 shares of the company’s stock valued at $660,000 after acquiring an additional 59,582 shares during the period. Geode Capital Management LLC raised its holdings in Cryoport by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company’s stock worth $8,902,000 after purchasing an additional 38,520 shares during the period. Bullseye Asset Management LLC boosted its position in shares of Cryoport by 58.7% during the third quarter. Bullseye Asset Management LLC now owns 214,264 shares of the company’s stock worth $1,737,000 after purchasing an additional 79,244 shares in the last quarter. State Street Corp lifted its holdings in Cryoport by 2.8% during the third quarter. State Street Corp now owns 1,003,080 shares of the company’s stock worth $8,135,000 after acquiring an additional 27,438 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Cryoport by 11.0% during the 3rd quarter. Stifel Financial Corp now owns 139,745 shares of the company’s stock valued at $1,133,000 after purchasing an additional 13,809 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

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.