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

Cryoport, Inc. (NASDAQ:CYRX)’s share price fell 4.5% on Tuesday following insider selling activity. The stock traded as low as $16.61 and last traded at $16.64. 91,809 shares traded hands 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, Director Ramkumar Mandalam sold 3,217 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $14.68, for a total value of $47,225.56. Following the completion of the transaction, the director now owns 43,187 shares of the company’s stock, valued at approximately $633,985.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Ramkumar Mandalam sold 3,217 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $14.68, for a total value of $47,225.56. Following the completion of the sale, the director now directly owns 43,187 shares in the company, valued at $633,985.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jerrell Shelton sold 57,039 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $15.30, for a total transaction of $872,696.70. Following the transaction, the chief executive officer now owns 634,352 shares in the company, valued at approximately $9,705,585.60. The disclosure for this sale can be found here. Insiders sold 73,940 shares of company stock worth $1,147,538 over the last 90 days. 10.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CYRX. Needham & Company LLC reduced their price target on Cryoport from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Stephens reissued an “equal weight” rating and set a $17.00 target price on shares of Cryoport in a research note on Wednesday, March 13th. Finally, UBS Group raised their price target on shares of Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.29.

Cryoport Trading Down 2.3 %

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

Institutional Investors Weigh In On Cryoport

Several hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its stake in Cryoport by 228.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,060 shares of the company’s stock worth $36,000 after buying an additional 1,433 shares in the last quarter. Quarry LP purchased a new stake in shares of Cryoport during the 2nd quarter worth $40,000. Captrust Financial Advisors boosted its position in Cryoport by 308.3% during the second quarter. Captrust Financial Advisors now owns 2,319 shares of the company’s stock valued at $72,000 after purchasing an additional 1,751 shares in the last quarter. FMR LLC raised its holdings in Cryoport by 34.1% in the first quarter. FMR LLC now owns 2,935 shares of the company’s stock worth $70,000 after purchasing an additional 747 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of 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 last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

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.