Cryoport, Inc. (NASDAQ:CYRX) Sees Significant Drop in Short Interest

Cryoport, Inc. (NASDAQ:CYRX) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 2,500,000 shares, a drop of 7.4% from the November 15th total of 2,700,000 shares. Approximately 5.3% of the company’s stock are sold short. Based on an average daily trading volume, of 442,400 shares, the short-interest ratio is presently 5.7 days.

Cryoport Price Performance

CYRX traded up $0.28 on Tuesday, hitting $8.00. 130,261 shares of the company’s stock were exchanged, compared to its average volume of 558,427. The stock has a market cap of $395.45 million, a price-to-earnings ratio of -2.28 and a beta of 1.62. Cryoport has a fifty-two week low of $5.32 and a fifty-two week high of $20.10. The firm has a 50-day moving average price of $7.31 and a 200-day moving average price of $8.06. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48.

Analysts Set New Price Targets

A number of research analysts have issued reports on CYRX shares. Roth Mkm reduced 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. UBS Group increased 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cryoport has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Insider Transactions at Cryoport

In related news, CEO Jerrell Shelton sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $6.78, for a total value of $339,000.00. Following the completion of the sale, the chief executive officer now owns 712,747 shares in the company, valued at $4,832,424.66. This represents a 6.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ramkumar Mandalam sold 7,369 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $7.46, for a total value of $54,972.74. Following the completion of the sale, the director now owns 59,497 shares in the company, valued at $443,847.62. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,869 shares of company stock valued at $735,673 over the last quarter. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On Cryoport

Several institutional investors have recently modified their holdings of CYRX. Fred Alger Management LLC increased its position in shares of Cryoport by 49.9% during the third quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company’s stock worth $21,887,000 after purchasing an additional 898,481 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Cryoport by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,035,586 shares of the company’s stock worth $14,066,000 after buying an additional 52,103 shares during the last quarter. Thematics Asset Management grew its holdings in shares of Cryoport by 176.2% during the third quarter. Thematics Asset Management now owns 1,705,000 shares of the company’s stock worth $13,828,000 after buying an additional 1,087,800 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cryoport by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company’s stock worth $8,902,000 after buying an additional 38,520 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Cryoport by 2.8% during the third quarter. State Street Corp now owns 1,003,080 shares of the company’s stock worth $8,135,000 after buying an additional 27,438 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

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.