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 Thursday, November 21st. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the transaction, the chief executive officer now owns 731,897 shares of the company’s stock, valued at approximately $4,764,649.47. The trade was a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Jerrell Shelton also recently made the following trade(s):

• On Tuesday, November 19th, Jerrell Shelton sold 50,000 shares of Cryoport stock. The stock was sold at an average price of $6.78, for a total transaction of $339,000.00.

Cryoport Stock Up 8.0 %

Cryoport stock opened at $7.18 on Wednesday. The firm has a market capitalization of $354.91 million, a price-to-earnings ratio of -2.12 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 fifty-two week low of $5.32 and a fifty-two week high of $20.10. The stock’s fifty day moving average is $7.47 and its two-hundred day moving average is $8.53.

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

Institutional Trading of Cryoport

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

Wall Street Analyst Weigh In

Several research firms have issued reports on CYRX. Needham & Company LLC dropped their target price on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. UBS Group upped their price objective on Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a report 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. B. Riley upgraded 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 report on Wednesday, July 31st. Finally, Jefferies Financial Group downgraded shares of Cryoport from a “buy” rating to a “hold” rating and cut their price target for the company from $20.00 to $8.00 in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Cryoport has an average rating of “Moderate Buy” and a consensus 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.