Jerrell Shelton Sells 50,000 Shares of Cryoport, Inc. (NASDAQ:CYRX) Stock

Cryoport, Inc. (NASDAQ:CYRX) CEO Jerrell Shelton sold 50,000 shares of Cryoport stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $6.51, for a total transaction of $325,500.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $6.78, for a total transaction of $339,000.00.

Cryoport Price Performance

Cryoport stock opened at $6.65 on Tuesday. The stock has a market capitalization of $328.71 million, a P/E ratio of -1.97 and a beta of 1.63. The company’s fifty day moving average price is $7.50 and its 200 day moving average price is $8.58. 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 1 year low of $5.32 and a 1 year high of $20.10.

Cryoport announced that its board has approved a share repurchase program on Tuesday, August 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 49.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Cryoport

A number of institutional investors and hedge funds have recently modified their holdings of CYRX. Comerica Bank increased its stake in Cryoport by 73.0% during the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after buying an additional 1,469 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Cryoport by 294.3% during the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock worth $95,000 after purchasing an additional 4,014 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Cryoport in the 3rd quarter valued at $82,000. Quest Partners LLC lifted its holdings in Cryoport by 1,083,000.0% in the 2nd quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock valued at $75,000 after purchasing an additional 10,830 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Cryoport during the 3rd quarter worth $105,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CYRX. UBS Group lifted their price objective on Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Roth Mkm decreased their price target on Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th. B. Riley raised shares of Cryoport from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $19.00 to $15.00 in a research note on Wednesday, July 31st. Needham & Company LLC decreased their target price on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group downgraded shares of Cryoport from a “buy” rating to a “hold” rating and lowered their price target for the stock 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.50.

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.