Cryoport, Inc. (NASDAQ:CYRX) Insider Sells $383,506.25 in Stock

Posted by MarketBeat News on Sep 5th, 2023

Cryoport, Inc. (NASDAQ:CYRX – Get Free Report) insider Jerrell Shelton sold 26,875 shares of Cryoport stock in a transaction on Friday, September 1st. The stock was sold at an average price of $14.27, for a total value of $383,506.25. Following the sale, the insider now owns 632,424 shares of the company’s stock, valued at $9,024,690.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cryoport Stock Down 2.3 %

CYRX traded down $0.32 on Tuesday, hitting $13.87. The company had a trading volume of 657,733 shares, compared to its average volume of 504,327. The stock has a fifty day moving average price of $15.34 and a 200-day moving average price of $19.04. Cryoport, Inc. has a 12-month low of $12.39 and a 12-month high of $34.94. The company has a debt-to-equity ratio of 0.78, a current ratio of 14.54 and a quick ratio of 13.82.

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

Institutional Investors Weigh In On Cryoport

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

Wall Street Analysts Forecast Growth

CYRX has been the subject of several research analyst reports. UBS Group downgraded Cryoport from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $28.00 to $17.00 in a research report on Tuesday, July 18th. Needham & Company LLC cut their price target on Cryoport from $30.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, August 10th. Stephens lowered Cryoport from an “overweight” rating to an “equal weight” rating and set a $15.00 price target on the stock. in a research note on Thursday, August 10th. SVB Securities lowered Cryoport from an “outperform” rating to a “market perform” rating and cut their price target for the company from $30.00 to $10.00 in a research note on Thursday, July 13th. Finally, B. Riley cut their price target on Cryoport from $30.00 to $22.00 in a research note on Thursday, July 13th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.78.

Check Out Our Latest Report on Cryoport

Cryoport Company Profile

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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.