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

Cryoport, Inc. (NASDAQ:CYRX) fell 4.5% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $16.61 and last traded at $16.64. 91,809 shares were traded 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 company’s stock in a transaction on Monday, March 25th. The stock was 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 in the company, valued at $12,140,872.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Cryoport news, CEO Jerrell Shelton sold 2,631 shares of the company’s 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 sale, the chief executive officer now directly owns 692,182 shares of the company’s stock, valued at approximately $12,140,872.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ramkumar Mandalam sold 3,217 shares of Cryoport 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 transaction, the director now directly owns 43,187 shares in the company, valued at approximately $633,985.16. The disclosure for this sale can be found here. Insiders sold a total of 73,940 shares of company stock valued at $1,147,538 over the last ninety days. 10.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Cryoport Stock Performance

The company has a 50-day moving average price of $16.02 and a two-hundred day moving average price of $14.40. The company has a market capitalization of $866.95 million, a PE ratio of -8.05 and a beta of 1.61. The company has a quick ratio of 11.16, a current ratio of 11.73 and a debt-to-equity ratio of 0.82.

Institutional Investors Weigh In On Cryoport

Several hedge funds and other institutional investors have recently modified their holdings of CYRX. Tower Research Capital LLC TRC increased its holdings in Cryoport by 228.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,060 shares of the company’s stock worth $36,000 after acquiring an additional 1,433 shares during the period. Quarry LP purchased a new stake in shares of Cryoport in the second quarter worth $40,000. State of Wyoming boosted its stake in Cryoport by 42.7% during the fourth quarter. State of Wyoming now owns 3,026 shares of the company’s stock valued at $53,000 after buying an additional 905 shares during the period. Comerica Bank purchased a new position in Cryoport during the third quarter worth about $53,000. Finally, Natixis Investment Managers International increased its stake in Cryoport by 61.5% in the 4th quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock worth $70,000 after acquiring an additional 1,727 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors.

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.