Jerrell Shelton Sells 50,000 Shares of Cryoport, Inc. (NASDAQ:CYRX) Stock

Cryoport, Inc. (NASDAQ:CYRX) CEO Jerrell Shelton sold 50,000 shares of Cryoport stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $6.78, for a total transaction of $339,000.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cryoport Stock Performance

Shares of NASDAQ CYRX opened at $6.58 on Friday. The firm has a 50 day moving average of $7.54 and a 200 day moving average of $8.73. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $325.01 million, a price-to-earnings ratio of -1.95 and a beta of 1.63. Cryoport, Inc. has a 12-month low of $5.32 and a 12-month high of $20.10.

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

Hedge Funds Weigh In On Cryoport

Large investors have recently added to or reduced their stakes in the company. Comerica Bank lifted its holdings in Cryoport by 73.0% during the first quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after purchasing an additional 1,469 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Cryoport by 294.3% during the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock valued at $95,000 after purchasing an additional 4,014 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Cryoport during the third quarter valued at approximately $82,000. Quest Partners LLC lifted its holdings in Cryoport by 1,083,000.0% during the second quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock valued at $75,000 after purchasing an additional 10,830 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Cryoport during the third quarter valued at approximately $105,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Wall Street Analyst Weigh In

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