Cryoport, Inc. (NASDAQ:CYRX) Sees Large Growth in Short Interest

Cryoport, Inc. (NASDAQ:CYRXGet Free Report) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,170,000 shares, an increase of 6.6% from the February 29th total of 3,910,000 shares. Based on an average daily volume of 440,000 shares, the short-interest ratio is presently 9.5 days. Approximately 8.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research analysts have commented on CYRX shares. Stephens reaffirmed an “equal weight” rating and set a $17.00 target price on shares of Cryoport in a report on Wednesday, March 13th. Needham & Company LLC cut their target price on Cryoport from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Finally, UBS Group lifted their target price on Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.29.

Get Our Latest Research Report on CYRX

Insider Activity

In related news, CEO Jerrell Shelton sold 3,723 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $16.35, for a total transaction of $60,871.05. Following the sale, the chief executive officer now owns 636,951 shares of the company’s stock, valued at approximately $10,414,148.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jerrell Shelton sold 3,723 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $16.35, for a total transaction of $60,871.05. Following the sale, the chief executive officer now owns 636,951 shares of the company’s stock, valued at approximately $10,414,148.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ramkumar Mandalam sold 3,217 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $14.68, for a total value of $47,225.56. Following the sale, the director now directly owns 43,187 shares in the company, valued at approximately $633,985.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,940 shares of company stock worth $1,147,538. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its stake in shares of Cryoport by 228.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,060 shares of the company’s stock valued at $36,000 after purchasing an additional 1,433 shares during the period. Quarry LP bought a new stake in Cryoport in the 2nd quarter valued at about $40,000. State of Wyoming increased its position in Cryoport by 42.7% in the 4th quarter. State of Wyoming now owns 3,026 shares of the company’s stock valued at $53,000 after buying an additional 905 shares in the last quarter. Comerica Bank bought a new stake in Cryoport in the 3rd quarter valued at about $53,000. Finally, Natixis Investment Managers International increased its position in Cryoport by 61.5% in the 4th quarter. Natixis Investment Managers International now owns 4,536 shares of the company’s stock valued at $70,000 after buying an additional 1,727 shares in the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

Cryoport Stock Up 2.4 %

Shares of NASDAQ:CYRX opened at $18.34 on Thursday. The company has a market capitalization of $898.29 million, a price-to-earnings ratio of -8.34 and a beta of 1.60. The company has a debt-to-equity ratio of 0.82, a current ratio of 11.73 and a quick ratio of 11.16. The business’s 50-day moving average is $16.28 and its 200-day moving average is $14.51. Cryoport has a 1 year low of $9.00 and a 1 year high of $24.17.

Cryoport Company Profile

(Get Free Report)

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.

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