Cryoport, Inc. (NASDAQ:CYRX) CEO Sells $325,500.00 in Stock

Cryoport, Inc. (NASDAQ:CYRX) CEO Jerrell Shelton sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the transaction, the chief executive officer now owns 731,897 shares in the company, valued at $4,764,649.47. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 transaction of $339,000.00.

Cryoport Price Performance

Cryoport stock opened at $7.09 on Thursday. The company’s 50 day simple moving average is $7.45 and its 200-day simple moving average is $8.49. The company has a market capitalization of $350.46 million, a price-to-earnings ratio of -2.10 and a beta of 1.63. Cryoport, Inc. has a 1 year low of $5.32 and a 1 year 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 announced that its board has initiated a share 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 repurchase up to 49.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CYRX has been the topic of a number of recent research reports. UBS Group boosted their price target 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. Needham & Company LLC reduced their target price on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Roth Mkm reduced their target price on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock 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 target price for the stock from $19.00 to $15.00 in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group downgraded shares of Cryoport from a “buy” rating to a “hold” rating and reduced their target price for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Institutional Investors Weigh In On Cryoport

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. raised its stake in shares of Cryoport by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 385,619 shares of the company’s stock valued at $3,127,000 after acquiring an additional 20,077 shares during the period. Barclays PLC raised its stake 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 stake in shares of Cryoport by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company’s stock valued at $8,902,000 after acquiring an additional 38,520 shares during the period. Bullseye Asset Management LLC raised its stake in shares of Cryoport by 58.7% in the 3rd quarter. Bullseye Asset Management LLC now owns 214,264 shares of the company’s stock valued at $1,737,000 after acquiring an additional 79,244 shares during the period. Finally, State Street Corp grew its holdings in shares of Cryoport by 2.8% in the third quarter. State Street Corp now owns 1,003,080 shares of the company’s stock valued at $8,135,000 after purchasing an additional 27,438 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

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.