Robert J. Hariri Sells 2,500 Shares of Cryoport, Inc. (NASDAQ:CYRX) Stock

Cryoport, Inc. (NASDAQ:CYRX) Director Robert J. Hariri sold 2,500 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $6.48, for a total value of $16,200.00. Following the sale, the director now directly owns 20,561 shares in the company, valued at approximately $133,235.28. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cryoport Trading Up 9.9 %

NASDAQ:CYRX traded up $0.70 during trading hours on Monday, reaching $7.78. 466,286 shares of the company were exchanged, compared to its average volume of 567,566. The firm has a market cap of $384.57 million, a price-to-earnings ratio of -2.22 and a beta of 1.63. The stock has a 50 day simple moving average of $7.36 and a 200 day simple moving average of $8.35. Cryoport, Inc. has a 52-week low of $5.32 and a 52-week high of $20.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32.

Cryoport declared that its board has authorized a stock buyback plan on Tuesday, August 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 49.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Roth Mkm reduced 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. UBS Group upped their price objective on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Jefferies Financial Group cut shares of Cryoport from a “buy” rating to a “hold” rating and lowered their target price for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. Finally, Needham & Company LLC decreased their price objective on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Institutional Investors Weigh In On Cryoport

Institutional investors and hedge funds have recently modified their holdings of the stock. Fred Alger Management LLC lifted its position in shares of Cryoport by 49.9% during the third quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company’s stock worth $21,887,000 after purchasing an additional 898,481 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Cryoport by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,035,586 shares of the company’s stock valued at $14,066,000 after purchasing an additional 52,103 shares in the last quarter. Thematics Asset Management increased its stake in shares of Cryoport by 176.2% in the third quarter. Thematics Asset Management now owns 1,705,000 shares of the company’s stock worth $13,828,000 after buying an additional 1,087,800 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Cryoport by 52.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company’s stock valued at $10,211,000 after acquiring an additional 511,064 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Cryoport by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company’s stock valued at $8,902,000 after acquiring an additional 38,520 shares during the last quarter. Hedge funds and other institutional investors own 92.90% 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.