Cryoport, Inc. (NASDAQ:CYRX) Director Sells $20,400.00 in Stock

Posted by MarketBeat News on Sep 15th, 2023

Cryoport, Inc. (NASDAQ:CYRX – Get Free Report) Director Robert J. Hariri sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $13.60, for a total transaction of $20,400.00. Following the sale, the director now directly owns 14,516 shares in the company, valued at $197,417.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cryoport Stock Performance

NASDAQ:CYRX opened at $14.80 on Friday. Cryoport, Inc. has a fifty-two week low of $12.31 and a fifty-two week high of $32.97. The company has a debt-to-equity ratio of 0.78, a current ratio of 14.54 and a quick ratio of 13.82. The business has a 50 day moving average price of $14.79 and a 200-day moving average price of $18.67.

Cryoport (NASDAQ:CYRX – Get Free Report) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.17). The company had revenue of $57.02 million for the quarter, compared to analysts’ expectations of $56.94 million. Cryoport had a negative net margin of 16.07% and a negative return on equity of 7.23%. Equities analysts forecast that Cryoport, Inc. will post -1.07 earnings per share for the current year.

Institutional Trading of Cryoport

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Portside Wealth Group LLC bought a new position in shares of Cryoport during the second quarter valued at $3,834,000. Nuveen Asset Management LLC increased its holdings in shares of Cryoport by 3.7% during the second quarter. Nuveen Asset Management LLC now owns 177,474 shares of the company’s stock valued at $3,061,000 after acquiring an additional 6,353 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Cryoport by 26.3% during the second quarter. Wells Fargo & Company MN now owns 33,843 shares of the company’s stock valued at $584,000 after acquiring an additional 7,037 shares in the last quarter. Bullseye Asset Management LLC increased its holdings in shares of Cryoport by 0.8% during the second quarter. Bullseye Asset Management LLC now owns 127,016 shares of the company’s stock valued at $2,191,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Cryoport by 12.9% during the second quarter. Goldman Sachs Group Inc. now owns 284,065 shares of the company’s stock valued at $4,900,000 after acquiring an additional 32,463 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BTIG Research decreased their price objective on shares of Cryoport from $33.00 to $28.00 in a research report on Thursday, August 10th. SVB Securities cut shares of Cryoport from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $30.00 to $10.00 in a research report on Thursday, July 13th. UBS Group cut shares of Cryoport from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $28.00 to $17.00 in a research report on Tuesday, July 18th. Morgan Stanley initiated coverage on Cryoport in a research note on Thursday, August 17th. They issued an “equal weight” rating and a $16.00 target price for the company. Finally, SVB Leerink lowered Cryoport from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 13th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.78.

Read Our Latest Stock Report on CYRX

About Cryoport

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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. It operates in two segments: Global Logistics Solutions and Global Bioservices. 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.

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