Readystate Asset Management LP Has $2.71 Million Stock Position in Cryoport, Inc. (NASDAQ:CYRX)

Readystate Asset Management LP lowered its stake in Cryoport, Inc. (NASDAQ:CYRX) by 20.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 333,966 shares of the company’s stock after selling 86,399 shares during the quarter. Readystate Asset Management LP’s holdings in Cryoport were worth $2,708,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Comerica Bank lifted its position in Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after acquiring an additional 1,469 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Cryoport by 1,083,000.0% in the second quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock valued at $75,000 after purchasing an additional 10,830 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Cryoport in the third quarter valued at about $82,000. Hsbc Holdings PLC acquired a new position in shares of Cryoport during the second quarter worth about $92,000. Finally, Intech Investment Management LLC bought a new position in shares of Cryoport during the third quarter worth about $105,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CYRX shares. Needham & Company LLC cut their price objective on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group cut Cryoport from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. UBS Group increased their price objective on Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Roth Mkm lowered their target price on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Cryoport presently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Cryoport Trading Up 0.8 %

Shares of CYRX stock opened at $7.50 on Thursday. Cryoport, Inc. has a 12-month low of $5.32 and a 12-month high of $20.10. The company has a market capitalization of $370.73 million, a PE ratio of -2.22 and a beta of 1.62. The firm has a 50 day moving average price of $7.34 and a two-hundred day moving average price of $8.27. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48.

Insider Buying and Selling

In other Cryoport news, Director Ramkumar Mandalam sold 7,369 shares of Cryoport stock in a transaction dated 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. The trade was a 11.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jerrell Shelton sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the transaction, the chief executive officer now owns 731,897 shares in the company, valued at approximately $4,764,649.47. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,869 shares of company stock valued at $735,673. Insiders own 10.10% 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.