Short Interest in Cryoport, Inc. (NASDAQ:CYRX) Drops By 5.5%

Cryoport, Inc. (NASDAQ:CYRX) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 2,080,000 shares, a drop of 5.5% from the December 15th total of 2,200,000 shares. Based on an average daily volume of 405,400 shares, the short-interest ratio is currently 5.1 days. Currently, 4.4% of the shares of the company are short sold.

Insiders Place Their Bets

In other Cryoport news, 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 completion of the sale, the chief executive officer now directly owns 731,897 shares of the company’s stock, valued at approximately $4,764,649.47. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramkumar Mandalam sold 7,369 shares of Cryoport stock in a transaction that occurred on 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 transaction, the director now owns 59,497 shares in the company, valued at $443,847.62. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,869 shares of company stock valued at $735,673. Insiders own 10.10% of the company’s stock.

Institutional Trading of Cryoport

A number of institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Cryoport by 13.3% in the second quarter. Bank of New York Mellon Corp now owns 169,155 shares of the company’s stock valued at $1,169,000 after buying an additional 19,803 shares in the last quarter. Rhumbline Advisers increased its holdings in Cryoport by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock valued at $443,000 after acquiring an additional 2,086 shares in the last quarter. Federated Hermes Inc. acquired a new position in Cryoport during the second quarter worth about $774,000. Massachusetts Financial Services Co. MA raised its position in Cryoport by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,035,586 shares of the company’s stock worth $14,066,000 after acquiring an additional 52,103 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Cryoport in the second quarter valued at about $92,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CYRX shares. UBS Group lifted their target price on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Guggenheim began coverage on Cryoport in a report on Thursday, December 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Cryoport in a research note on Friday. Finally, Roth Mkm decreased their price target on Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.29.

Cryoport Price Performance

Shares of NASDAQ:CYRX opened at $7.50 on Monday. The firm has a market capitalization of $370.73 million, a price-to-earnings ratio of -2.22 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. The business’s 50 day simple moving average is $7.68 and its 200-day simple moving average is $7.88. Cryoport has a 12 month low of $5.32 and a 12 month high of $20.10.

Cryoport Company Profile

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.