Cryoport, Inc. (NASDAQ:CYRX) Director Sells $16,200.00 in Stock

Cryoport, Inc. (NASDAQ:CYRX) Director Robert J. Hariri sold 2,500 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $6.48, for a total transaction of $16,200.00. Following the completion of the transaction, the director now directly owns 20,561 shares in the company, valued at $133,235.28. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cryoport Stock Performance

CYRX traded up $0.70 during trading on Monday, reaching $7.78. The company’s stock had a trading volume of 466,286 shares, compared to its average volume of 567,566. The company has a market capitalization of $384.57 million, a price-to-earnings ratio of -2.22 and a beta of 1.63. The company’s fifty day moving average price is $7.36 and its 200-day moving average price is $8.35. Cryoport, Inc. has a 52-week low of $5.32 and a 52-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 announced that its board has approved a share repurchase plan on Tuesday, August 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 49.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Cryoport

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Cryoport by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company’s stock valued at $859,000 after acquiring an additional 1,438 shares during the period. Comerica Bank raised its position in Cryoport by 73.0% during the first quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after acquiring an additional 1,469 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Cryoport by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock valued at $122,000 after purchasing an additional 1,534 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Cryoport by 3.4% in the second quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock valued at $443,000 after purchasing an additional 2,086 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Cryoport by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 387,714 shares of the company’s stock valued at $3,144,000 after purchasing an additional 2,226 shares during the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CYRX shares. Needham & Company LLC dropped their price target on 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 decreased their price target on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. UBS Group lifted their price objective on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group downgraded shares of Cryoport from a “buy” rating to a “hold” rating and decreased 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

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.