Jerrell Shelton Sells 50,000 Shares of Cryoport, Inc. (NASDAQ:CYRX) Stock

Cryoport, Inc. (NASDAQ:CYRX) CEO Jerrell Shelton sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $6.51, for a total value of $325,500.00. Following the sale, the chief executive officer now owns 731,897 shares of the company’s stock, valued at approximately $4,764,649.47. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jerrell Shelton also recently made the following trade(s):

• On Tuesday, November 19th, Jerrell Shelton sold 50,000 shares of Cryoport stock. The shares were sold at an average price of $6.78, for a total value of $339,000.00.

Cryoport Price Performance

NASDAQ CYRX traded up $0.09 during trading hours on Monday, reaching $6.65. 1,640,480 shares of the company’s stock were exchanged, compared to its average volume of 570,977. The firm has a fifty day moving average of $7.50 and a 200-day moving average of $8.58. Cryoport, Inc. has a one year low of $5.32 and a one year high of $20.10. The stock has a market cap of $328.71 million, a PE ratio of -1.97 and a beta of 1.63. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48.

Cryoport announced that its Board of Directors has approved a stock repurchase program on Tuesday, August 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 49.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CYRX. Comerica Bank grew its holdings in Cryoport by 73.0% during the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after acquiring an additional 1,469 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Cryoport by 294.3% during the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock worth $95,000 after purchasing an additional 4,014 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Cryoport during the third quarter valued at approximately $82,000. Quest Partners LLC increased its holdings in shares of Cryoport by 1,083,000.0% in the second quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock valued at $75,000 after purchasing an additional 10,830 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Cryoport in the third quarter valued at approximately $105,000. 92.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group upped their target price 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. B. Riley raised shares of Cryoport from a “neutral” rating to a “buy” rating and cut their price objective for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. Jefferies Financial Group downgraded Cryoport from a “buy” rating to a “hold” rating and decreased their target price for the stock from $20.00 to $8.00 in a research report on Wednesday, August 7th. Needham & Company LLC cut their price target on Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Roth Mkm decreased their price objective on Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

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.