Insider Selling: Cryoport, Inc. (NASDAQ:CYRX) Insider Sells 51,500 Shares of Stock

Cryoport, Inc. (NASDAQ:CYRX) insider Edward J. Zecchini sold 51,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $6.84, for a total value of $352,260.00. Following the completion of the transaction, the insider now directly owns 90,411 shares in the company, valued at approximately $618,411.24. This trade represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Cryoport Trading Down 2.6%

NASDAQ CYRX opened at $6.78 on Wednesday. The company has a market cap of $339.93 million, a price-to-earnings ratio of -2.01 and a beta of 1.85. Cryoport, Inc. has a 52 week low of $4.58 and a 52 week high of $11.20. The business has a 50 day moving average price of $5.97 and a 200-day moving average price of $6.73. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48.

Cryoport (NASDAQ:CYRX) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. The firm had revenue of $41.04 million during the quarter, compared to the consensus estimate of $56.19 million. Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. As a group, equities analysts expect that Cryoport, Inc. will post -0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cryoport

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cadian Capital Management LP grew its holdings in Cryoport by 14.1% during the fourth quarter. Cadian Capital Management LP now owns 4,927,027 shares of the company’s stock worth $38,332,000 after buying an additional 609,021 shares in the last quarter. Millennium Management LLC grew its holdings in Cryoport by 11.0% during the fourth quarter. Millennium Management LLC now owns 4,139,869 shares of the company’s stock worth $32,208,000 after buying an additional 409,353 shares in the last quarter. LPL Financial LLC grew its holdings in Cryoport by 1,366.1% during the fourth quarter. LPL Financial LLC now owns 436,766 shares of the company’s stock worth $3,398,000 after buying an additional 406,976 shares in the last quarter. Norges Bank bought a new stake in Cryoport during the fourth quarter worth $2,711,000. Finally, Silvercrest Asset Management Group LLC grew its holdings in Cryoport by 77.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 742,914 shares of the company’s stock worth $5,780,000 after buying an additional 323,216 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CYRX shares. Morgan Stanley dropped their price target on Cryoport from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of Cryoport in a research note on Wednesday, April 16th. Roth Mkm reissued a “buy” rating and issued a $15.00 price target on shares of Cryoport in a research note on Tuesday, April 1st. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Cryoport in a research note on Thursday, May 8th. Finally, UBS Group boosted their price target on Cryoport from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.00.

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.