Cryoport, Inc. (NASDAQ:CYRX) Sees Significant Drop in Short Interest

Cryoport, Inc. (NASDAQ:CYRX) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 2,500,000 shares, a decline of 7.4% from the November 15th total of 2,700,000 shares. Based on an average daily trading volume, of 442,400 shares, the short-interest ratio is currently 5.7 days. Currently, 5.3% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

CYRX has been the subject of a number of analyst reports. Roth Mkm lowered their target price on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. UBS Group lifted their target price on shares of Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.50.

Cryoport Trading Up 5.4 %

CYRX opened at $8.14 on Wednesday. Cryoport has a 1-year low of $5.32 and a 1-year high of $20.10. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48. The company has a market cap of $402.37 million, a P/E ratio of -2.41 and a beta of 1.62. The company has a fifty day moving average price of $7.31 and a two-hundred day moving average price of $8.06.

Insider Buying and Selling

In related news, CEO Jerrell Shelton sold 50,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were 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 owns 731,897 shares of the company’s stock, valued at $4,764,649.47. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ramkumar Mandalam sold 7,369 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $7.46, for a total value of $54,972.74. Following the transaction, the director now directly owns 59,497 shares of the company’s stock, valued at approximately $443,847.62. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,869 shares of company stock worth $735,673. Insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On Cryoport

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank increased its stake in Cryoport by 73.0% in the first quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after purchasing an additional 1,469 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Cryoport by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock valued at $122,000 after purchasing an additional 1,534 shares in the last quarter. Rhumbline Advisers increased its stake in Cryoport by 3.4% in the second quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock valued at $443,000 after purchasing an additional 2,086 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cryoport by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 387,714 shares of the company’s stock valued at $3,144,000 after purchasing an additional 2,226 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Cryoport in the third quarter valued at $82,000. 92.90% of the stock is owned by institutional investors.

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.