Cryoport (NASDAQ:CYRX) Shares Cross Above 200 Day Moving Average – What’s Next?

Cryoport, Inc. (NASDAQ:CYRX)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.82 and traded as high as $8.61. Cryoport shares last traded at $8.51, with a volume of 291,213 shares changing hands.

Analyst Upgrades and Downgrades

CYRX has been the subject of several analyst reports. Roth Mkm decreased their price objective on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Guggenheim began coverage on shares of Cryoport in a report on Thursday, December 19th. They set a “buy” rating and a $11.00 target price on the stock. Finally, UBS Group lifted their price target on Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.29.

Cryoport Stock Performance

The firm has a market cap of $420.66 million, a price-to-earnings ratio of -2.52 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. The firm has a fifty day simple moving average of $7.71 and a two-hundred day simple moving average of $7.83.

Insider Activity at Cryoport

In other Cryoport news, Director Ramkumar Mandalam sold 7,369 shares of the firm’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 transaction of $54,972.74. Following the completion of the transaction, the director now directly owns 59,497 shares of the company’s stock, valued at approximately $443,847.62. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jerrell Shelton sold 50,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 731,897 shares of the company’s stock, valued at approximately $4,764,649.47. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,869 shares of company stock valued at $735,673 in the last three months. 10.10% of the stock is owned by insiders.

Institutional Trading of Cryoport

Several hedge funds and other institutional investors have recently bought and sold shares of CYRX. AXA S.A. boosted its position in Cryoport by 274.2% in 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 in the last quarter. Bullseye Asset Management LLC lifted its stake in shares of Cryoport by 58.7% in the 3rd quarter. Bullseye Asset Management LLC now owns 214,264 shares of the company’s stock valued at $1,737,000 after purchasing an additional 79,244 shares during the period. Federated Hermes Inc. purchased a new stake in Cryoport during the second quarter worth $774,000. Point72 Asset Management L.P. acquired a new stake in Cryoport during the third quarter valued at $3,405,000. Finally, Intech Investment Management LLC purchased a new position in Cryoport in the third quarter valued at $105,000. 92.90% of the stock is owned by institutional investors and hedge funds.

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.