Brown Capital Management LLC Sells 1,035,417 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Brown Capital Management LLC decreased its holdings in shares of Cryoport, Inc. (NASDAQ:CYRX - Free Report) by 16.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,151,420 shares of the company's stock after selling 1,035,417 shares during the quarter. Brown Capital Management LLC owned about 10.43% of Cryoport worth $41,778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Comerica Bank raised its position in shares of Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company's stock valued at $62,000 after acquiring an additional 1,469 shares during the period. Lazard Asset Management LLC raised its holdings in Cryoport by 294.3% during the 1st quarter. Lazard Asset Management LLC now owns 5,378 shares of the company's stock worth $95,000 after buying an additional 4,014 shares during the period. Quest Partners LLC lifted its stake in 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 buying an additional 10,830 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Cryoport in the third quarter valued at approximately $105,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Cryoport during the second quarter worth $92,000. 92.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CYRX has been the subject of a number of research analyst reports. Jefferies Financial Group lowered shares of Cryoport from a "buy" rating to a "hold" rating and reduced their target price for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. Needham & Company LLC cut their price target on shares of Cryoport from $18.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. UBS Group lifted their target price on Cryoport from $7.00 to $9.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. B. Riley raised 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 report on Wednesday, July 31st. Finally, Roth Mkm lowered their target price 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.50.

Cryoport Stock Performance

Shares of NASDAQ:CYRX traded up $0.01 on Thursday, hitting $6.58. The company had a trading volume of 354,221 shares, compared to its average volume of 566,961. Cryoport, Inc. has a 1-year low of $5.32 and a 1-year high of $20.10. The stock has a market cap of $325.01 million, a price-to-earnings ratio of -1.95 and a beta of 1.63. The stock has a 50 day moving average price of $7.54 and a 200 day moving average price of $8.73. 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 has initiated a stock repurchase program on Tuesday, August 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 49.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

Insider Activity

In other Cryoport news, CEO Jerrell Shelton sold 50,000 shares of Cryoport stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $6.78, for a total value of $339,000.00. Following the completion of the sale, the chief executive officer now owns 712,747 shares in the company, valued at $4,832,424.66. The trade was a 6.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.10% of the stock is owned by company insiders.

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.