Cryoport, Inc. (NASDAQ:CYRX) Director Sells $54,972.74 in Stock

Cryoport, Inc. (NASDAQ:CYRX) Director Ramkumar Mandalam sold 7,369 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $7.46, for a total transaction of $54,972.74. Following the completion of the sale, the director now owns 59,497 shares of the company’s stock, valued at approximately $443,847.62. The trade was a 11.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Cryoport Trading Up 0.8 %

CYRX traded up $0.06 on Wednesday, hitting $7.50. The company had a trading volume of 275,702 shares, compared to its average volume of 565,274. The company’s fifty day moving average price is $7.35 and its 200 day moving average price is $8.27. Cryoport, Inc. has a 1 year low of $5.32 and a 1 year high of $20.10. 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 cap of $370.73 million, a P/E ratio of -2.20 and a beta of 1.62.

Cryoport announced that its board has authorized a stock buyback plan on Tuesday, August 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 49.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Cryoport

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CYRX shares. Jefferies Financial Group lowered Cryoport from a “buy” rating to a “hold” rating and dropped their price target for the company from $20.00 to $8.00 in a research report on Wednesday, August 7th. Needham & Company LLC cut their target price on Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Roth Mkm reduced their price target on Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, UBS Group upped their price objective on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.50.

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.