Brown Capital Management LLC Cuts Holdings in Cryoport, Inc. (NASDAQ:CYRX)

Brown Capital Management LLC reduced its position in shares of Cryoport, Inc. (NASDAQ:CYRX) by 16.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,151,420 shares of the company’s stock after selling 1,035,417 shares during the quarter. Brown Capital Management LLC owned 10.43% of Cryoport worth $41,778,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CYRX. AXA S.A. boosted its position in Cryoport by 274.2% during the second quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after purchasing an additional 639,855 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Cryoport by 52.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company’s stock valued at $10,211,000 after buying an additional 511,064 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Cryoport in the 2nd quarter valued at $774,000. SG Americas Securities LLC increased its holdings in Cryoport by 278.6% in the 3rd quarter. SG Americas Securities LLC now owns 101,359 shares of the company’s stock worth $822,000 after acquiring an additional 74,590 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Cryoport in the 2nd quarter worth $378,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Cryoport Price Performance

Shares of CYRX opened at $6.57 on Thursday. Cryoport, Inc. has a 52-week low of $5.32 and a 52-week high of $20.10. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $7.57 and a two-hundred day simple moving average of $8.75.

Cryoport declared that its board has approved a share buyback plan on Tuesday, August 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 49.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

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

Insider Activity

In other news, CEO Jerrell Shelton sold 50,000 shares of the company’s stock in a transaction on 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 10.10% 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.