Cryoport (NASDAQ:CYRX) Trading Down 7.2% Following Insider Selling

Cryoport, Inc. (NASDAQ:CYRX – Get Rating) was down 7.2% during mid-day trading on Friday following insider selling activity. The stock traded as low as $20.99 and last traded at $21.23. Approximately 321,652 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 427,638 shares. The stock had previously closed at $22.88.

Specifically, CEO Jerrell Shelton sold 3,798 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $20.14, for a total transaction of $76,491.72. Following the completion of the transaction, the chief executive officer now directly owns 435,588 shares in the company, valued at approximately $8,772,742.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cryoport news, insider Mark W. Sawicki sold 1,362 shares of the stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $20.79, for a total value of $28,315.98. Following the sale, the insider now owns 61,670 shares of the company’s stock, valued at approximately $1,282,119.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jerrell Shelton sold 3,798 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $20.14, for a total value of $76,491.72. Following the completion of the sale, the chief executive officer now directly owns 435,588 shares in the company, valued at approximately $8,772,742.32. The disclosure for this sale can be found here. Insiders sold 11,463 shares of company stock worth $234,134 in the last three months. 9.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on CYRX. KeyCorp reduced their price target on Cryoport from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, December 8th. Needham & Company LLC increased their price target on Cryoport from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, February 24th.

Cryoport Trading Down 5.6 %

The company has a debt-to-equity ratio of 0.76, a quick ratio of 14.11 and a current ratio of 14.79. The firm has a 50-day moving average price of $21.84 and a two-hundred day moving average price of $22.60.

Cryoport (NASDAQ:CYRX – Get Rating) last issued its earnings results on Thursday, February 23rd. The consumer goods maker reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Cryoport had a negative return on equity of 6.18% and a negative net margin of 15.73%. The business had revenue of $60.36 million for the quarter, compared to analyst estimates of $58.26 million. During the same period last year, the business posted ($1.32) EPS. Cryoport’s revenue was up 6.9% on a year-over-year basis. Equities analysts forecast that Cryoport, Inc. will post -0.65 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in Cryoport during the 3rd quarter worth approximately $27,000. Captrust Financial Advisors grew its stake in Cryoport by 308.3% during the 2nd quarter. Captrust Financial Advisors now owns 2,319 shares of the consumer goods maker’s stock worth $72,000 after buying an additional 1,751 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Cryoport by 68.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,670 shares of the consumer goods maker’s stock worth $64,000 after buying an additional 1,085 shares during the last quarter. State of Wyoming grew its stake in Cryoport by 42.7% during the 4th quarter. State of Wyoming now owns 3,026 shares of the consumer goods maker’s stock worth $53,000 after buying an additional 905 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in Cryoport by 619.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,454 shares of the consumer goods maker’s stock worth $84,000 after buying an additional 2,974 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Cryoport Company Profile

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CryoPort, Inc engages in the provision of logistics solutions to the life science industry. It also provides logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide, including points-of-care, clinical research organizations central laboratories, biopharmaceuticals, contract manufacturing, health centers, and university researchers.