Cryoport, Inc. (NASDAQ:CYRX) Short Interest Update

Cryoport, Inc. (NASDAQ:CYRX) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 2,700,000 shares, a decline of 7.2% from the October 31st total of 2,910,000 shares. Approximately 5.7% of the shares of the stock are short sold. Based on an average daily volume of 441,300 shares, the days-to-cover ratio is presently 6.1 days.

Insider Buying and Selling at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 50,000 shares of the company’s 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 completion of the sale, the chief executive officer now owns 731,897 shares of the company’s stock, valued at approximately $4,764,649.47. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 102,500 shares of company stock worth $680,700. 10.10% of the stock is currently owned by insiders.

Institutional Trading of Cryoport

Hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC boosted its holdings in shares of Cryoport by 294.3% during the 1st quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock valued at $95,000 after acquiring an additional 4,014 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Cryoport by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company’s stock valued at $859,000 after acquiring an additional 1,438 shares in the last quarter. Comerica Bank boosted its stake in Cryoport by 73.0% during the first quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after buying an additional 1,469 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Cryoport in the second quarter valued at $185,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Cryoport by 52.9% in the 2nd 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 during the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

Cryoport Stock Down 4.4 %

NASDAQ CYRX traded down $0.34 during trading hours on Tuesday, hitting $7.44. The company had a trading volume of 322,551 shares, compared to its average volume of 566,517. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48. Cryoport has a 52 week low of $5.32 and a 52 week high of $20.10. The firm has a 50 day simple moving average of $7.36 and a 200 day simple moving average of $8.31.

Cryoport declared that its Board of Directors has approved a stock repurchase program on Tuesday, August 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 49.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.