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 company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $6.78, for a total transaction of $339,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cryoport Trading Down 5.3 %

NASDAQ:CYRX traded down $0.36 on Wednesday, reaching $6.57. The company’s stock had a trading volume of 567,933 shares, compared to its average volume of 567,216. The firm has a market cap of $324.76 million, a PE ratio of -1.94 and a beta of 1.63. 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 1-year low of $5.32 and a 1-year high of $20.10. The business’s 50-day moving average price is $7.57 and its two-hundred day moving average price is $8.75.

Cryoport declared that its Board of Directors has authorized a share repurchase program on Tuesday, August 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 49.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Barclays PLC raised its stake in Cryoport by 272.9% during the third quarter. Barclays PLC now owns 81,417 shares of the company’s stock worth $660,000 after purchasing an additional 59,582 shares during the period. Geode Capital Management LLC increased its stake in Cryoport by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company’s stock valued at $8,902,000 after purchasing an additional 38,520 shares during the last quarter. Bullseye Asset Management LLC lifted its holdings in Cryoport by 58.7% in 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 during the period. State Street Corp raised its holdings in Cryoport by 2.8% during the 3rd quarter. State Street Corp now owns 1,003,080 shares of the company’s stock worth $8,135,000 after buying an additional 27,438 shares during the period. Finally, Stifel Financial Corp increased its holdings in Cryoport by 11.0% in the third quarter. Stifel Financial Corp now owns 139,745 shares of the company’s stock worth $1,133,000 after buying an additional 13,809 shares during the last quarter. Hedge funds and other 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.