Cryoport (NASDAQ:CYRX) Trading Down 4.5% on Insider Selling

Cryoport, Inc. (NASDAQ:CYRX) shares traded down 4.5% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $16.61 and last traded at $16.64. 91,809 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 448,695 shares. The stock had previously closed at $17.42.

Specifically, CEO Jerrell Shelton sold 2,631 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $17.54, for a total value of $46,147.74. Following the completion of the transaction, the chief executive officer now owns 692,182 shares of the company’s stock, valued at $12,140,872.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cryoport news, CEO Jerrell Shelton sold 2,631 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $17.54, for a total transaction of $46,147.74. Following the completion of the sale, the chief executive officer now owns 692,182 shares of the company’s stock, valued at approximately $12,140,872.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramkumar Mandalam sold 3,217 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $14.68, for a total transaction of $47,225.56. Following the sale, the director now directly owns 43,187 shares of the company’s stock, valued at approximately $633,985.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,940 shares of company stock valued at $1,147,538. 10.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CYRX shares. Needham & Company LLC lowered their target price on Cryoport from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. UBS Group lifted their price objective on Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, Stephens reissued an “equal weight” rating and issued a $17.00 price objective on shares of Cryoport in a report on Wednesday, March 13th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Cryoport has a consensus rating of “Hold” and a consensus price target of $18.29.

Cryoport Stock Down 2.3 %

The company has a debt-to-equity ratio of 0.82, a current ratio of 11.73 and a quick ratio of 11.16. The stock has a market capitalization of $866.95 million, a PE ratio of -8.24 and a beta of 1.61. The company has a 50 day moving average price of $15.95 and a 200-day moving average price of $14.37.

Institutional Investors Weigh In On Cryoport

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CYRX. Nordea Investment Management AB bought a new position in shares of Cryoport during the third quarter valued at $1,153,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Cryoport by 285.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,409 shares of the company’s stock worth $1,061,000 after purchasing an additional 57,348 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Cryoport during the 3rd quarter valued at about $3,250,000. WCM Investment Management LLC lifted its position in shares of Cryoport by 2.0% during the 3rd quarter. WCM Investment Management LLC now owns 299,984 shares of the company’s stock valued at $4,113,000 after buying an additional 5,839 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Cryoport by 28.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,356,500 shares of the company’s stock valued at $18,598,000 after buying an additional 298,995 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

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.