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

Cryoport, Inc. (NASDAQ:CYRX - Get Free Report) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 2,500,000 shares, a decrease of 7.4% from the November 15th total of 2,700,000 shares. Based on an average trading volume of 442,400 shares, the short-interest ratio is presently 5.7 days. Approximately 5.3% of the company's shares are sold short.

Insider Activity

In other news, Director Ramkumar Mandalam sold 7,369 shares of Cryoport stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $7.46, for a total transaction of $54,972.74. Following the transaction, the director now owns 59,497 shares in the company, valued at $443,847.62. This trade represents a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jerrell Shelton sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the sale, the chief executive officer now owns 731,897 shares in the company, valued at approximately $4,764,649.47. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,869 shares of company stock valued at $735,673. Insiders own 10.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Fred Alger Management LLC raised its holdings in shares of Cryoport by 49.9% during the 3rd quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company's stock valued at $21,887,000 after buying an additional 898,481 shares during the period. Massachusetts Financial Services Co. MA grew its position in Cryoport by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,035,586 shares of the company's stock worth $14,066,000 after purchasing an additional 52,103 shares during the last quarter. Thematics Asset Management raised its stake in shares of Cryoport by 176.2% during the third quarter. Thematics Asset Management now owns 1,705,000 shares of the company's stock valued at $13,828,000 after purchasing an additional 1,087,800 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cryoport by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company's stock valued at $8,902,000 after acquiring an additional 38,520 shares in the last quarter. Finally, State Street Corp boosted its stake in Cryoport by 2.8% during the third quarter. State Street Corp now owns 1,003,080 shares of the company's stock valued at $8,135,000 after buying an additional 27,438 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Cryoport Stock Up 0.4 %

CYRX traded up $0.03 on Monday, hitting $7.72. 266,647 shares of the company were exchanged, compared to its average volume of 560,202. 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 has a twelve month low of $5.32 and a twelve month high of $20.10. The company has a market cap of $381.61 million, a price-to-earnings ratio of -2.32 and a beta of 1.62. The firm has a 50-day moving average price of $7.31 and a two-hundred day moving average price of $8.08.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CYRX shares. 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 report on Friday, October 18th. 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.

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