Cryoport (NASDAQ:CYRX) Shares Down 6.6% After Insider Selling

Cryoport, Inc. (NASDAQ:CYRX)’s stock price fell 6.6% on Wednesday following insider selling activity. The stock traded as low as $57.87 and last traded at $58.63. 17,296 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 292,733 shares. The stock had previously closed at $62.79.

Specifically, Director Daniel M. Hancock sold 10,000 shares of the stock in a transaction on Monday, June 7th. The shares were sold at an average price of $60.02, for a total transaction of $600,200.00. Following the completion of the sale, the director now directly owns 14,627 shares in the company, valued at $877,912.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward J. Zecchini sold 5,417 shares of the stock in a transaction on Thursday, May 13th. The stock was sold at an average price of $51.50, for a total transaction of $278,975.50. Following the sale, the director now owns 40,440 shares of the company’s stock, valued at $2,082,660. The disclosure for this sale can be found here. Insiders have sold 20,834 shares of company stock valued at $1,161,347 in the last ninety days. Insiders own 10.90% of the company’s stock.

CYRX has been the subject of a number of research reports. SVB Leerink raised their price target on shares of Cryoport from $50.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, March 2nd. Zacks Investment Research upgraded shares of Cryoport from a “sell” rating to a “hold” rating in a report on Friday, May 7th. UBS Group initiated coverage on shares of Cryoport in a report on Monday, March 15th. They set a “buy” rating and a $84.00 price objective for the company. Finally, Needham & Company LLC lifted their price objective on shares of Cryoport from $73.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, May 5th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $72.57.

The company has a current ratio of 11.08, a quick ratio of 10.78 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -31.90 and a beta of 0.88. The stock has a 50 day moving average of $54.45.

Cryoport (NASDAQ:CYRX) last announced its quarterly earnings data on Tuesday, May 4th. The consumer goods maker reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.08. The firm had revenue of $53.30 million during the quarter, compared to analyst estimates of $46.78 million. Cryoport had a negative net margin of 26.41% and a positive return on equity of 3.17%. The business’s quarterly revenue was up 443.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) EPS. On average, sell-side analysts anticipate that Cryoport, Inc. will post -0.49 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Fred Alger Management LLC raised its holdings in Cryoport by 0.3% during the 1st quarter. Fred Alger Management LLC now owns 6,005,937 shares of the consumer goods maker’s stock valued at $312,369,000 after buying an additional 20,188 shares during the last quarter. BlackRock Inc. raised its holdings in Cryoport by 17.0% in the 1st quarter. BlackRock Inc. now owns 3,400,620 shares of the consumer goods maker’s stock worth $176,867,000 after purchasing an additional 493,306 shares in the last quarter. Blackstone Group Inc. raised its holdings in Cryoport by 194.3% in the 1st quarter. Blackstone Group Inc. now owns 1,988,396 shares of the consumer goods maker’s stock worth $103,416,000 after purchasing an additional 1,312,860 shares in the last quarter. Granite Investment Partners LLC raised its holdings in Cryoport by 141.0% in the 1st quarter. Granite Investment Partners LLC now owns 1,127,374 shares of the consumer goods maker’s stock worth $58,635,000 after purchasing an additional 659,542 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Cryoport by 11.1% in the 4th quarter. Clearbridge Investments LLC now owns 980,057 shares of the consumer goods maker’s stock worth $43,005,000 after purchasing an additional 98,135 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Cryoport Company Profile (NASDAQ:CYRX)

Cryoport, Inc, a life sciences services company, provides temperature-controlled logistics solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking and monitoring, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, which is used to ensure that the stability of shipped biologic commodities are maintained throughout the shipping cycle; and Cryoport Express Advanced Therapy Shippers that provides verification processes to biopharma companies.

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