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

Cryoport, Inc. (NASDAQ:CYRX) CEO Jerrell Shelton sold 50,000 shares of Cryoport stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $6.51, for a total value of $325,500.00. Following the completion of the sale, the chief executive officer now owns 731,897 shares of the company’s stock, valued at $4,764,649.47. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Stock Up 1.4 %

Shares of CYRX stock opened at $6.65 on Tuesday. The stock’s fifty day moving average price is $7.50 and its 200 day moving average price is $8.58. Cryoport, Inc. has a 1-year low of $5.32 and a 1-year high of $20.10. The company has a market cap of $328.71 million, a price-to-earnings ratio of -1.97 and a beta of 1.63. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32.

Cryoport declared that its board has initiated a stock buyback plan on Tuesday, August 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 49.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Cryoport

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AXA S.A. grew its position in Cryoport by 274.2% during the 2nd quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after purchasing an additional 639,855 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Cryoport during the second quarter valued at $774,000. Assenagon Asset Management S.A. increased its position in shares of Cryoport by 52.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company’s stock valued at $10,211,000 after acquiring an additional 511,064 shares during the period. SG Americas Securities LLC raised its stake in Cryoport by 278.6% in the 3rd quarter. SG Americas Securities LLC now owns 101,359 shares of the company’s stock worth $822,000 after acquiring an additional 74,590 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Cryoport in the 2nd quarter worth $378,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CYRX shares. Needham & Company LLC dropped their price objective on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Jefferies Financial Group lowered Cryoport from a “buy” rating to a “hold” rating and reduced their price target for the stock from $20.00 to $8.00 in a research report on Wednesday, August 7th. Roth Mkm decreased their price objective on Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. B. Riley upgraded Cryoport from a “neutral” rating to a “buy” rating and cut their target price for the company from $19.00 to $15.00 in a research note on Wednesday, July 31st. Finally, UBS Group increased their price target on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.