Cryoport, Inc. (NASDAQ:CYRX – Get Free Report) 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
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.
Read Our Latest Report on Cryoport
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.
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