Cryoport (NASDAQ:CYRX) Trading Down 4.5% on Insider Selling

Cryoport, Inc. (NASDAQ:CYRX)’s share price dropped 4.5% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $16.61 and last traded at $16.64. Approximately 91,809 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 448,695 shares. The stock had previously closed at $17.42.

Specifically, Director Ramkumar Mandalam sold 3,217 shares of Cryoport stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $14.68, for a total transaction of $47,225.56. Following the completion of the transaction, the director now owns 43,187 shares in the company, valued at approximately $633,985.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jerrell Shelton sold 57,039 shares of Cryoport stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $15.30, for a total value of $872,696.70. Following the sale, the chief executive officer now directly owns 634,352 shares in the company, valued at approximately $9,705,585.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ramkumar Mandalam sold 3,217 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 43,187 shares in the company, valued at $633,985.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,940 shares of company stock worth $1,147,538. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CYRX. Stephens reissued an “equal weight” rating and issued a $17.00 target price on shares of Cryoport in a research report on Wednesday, March 13th. Needham & Company LLC decreased their price objective on shares of Cryoport from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Finally, UBS Group upped their price objective on shares of Cryoport from $14.50 to $17.00 and gave the company 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.29.

Cryoport Price Performance

The company’s 50-day moving average price is $15.95 and its two-hundred day moving average price is $14.37. The company has a market cap of $866.95 million, a P/E ratio of -8.24 and a beta of 1.61. The company has a current ratio of 11.73, a quick ratio of 11.16 and a debt-to-equity ratio of 0.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Cryoport by 228.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,060 shares of the company’s stock valued at $36,000 after acquiring an additional 1,433 shares in the last quarter. Quarry LP bought a new position in shares of Cryoport in the second quarter valued at approximately $40,000. State of Wyoming boosted its holdings in shares of Cryoport by 42.7% in the fourth quarter. State of Wyoming now owns 3,026 shares of the company’s stock valued at $53,000 after acquiring an additional 905 shares in the last quarter. Comerica Bank bought a new position in shares of Cryoport in the third quarter valued at approximately $53,000. Finally, Natixis Investment Managers International lifted its stake in Cryoport by 61.5% during the fourth quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock valued at $70,000 after purchasing an additional 1,727 shares during the last quarter. 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.