Algert Global LLC Increases Holdings in Cryoport, Inc. (NASDAQ:CYRX)

Algert Global LLC lifted its position in Cryoport, Inc. (NASDAQ:CYRX - Free Report) by 282.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,483 shares of the company's stock after acquiring an additional 182,808 shares during the quarter. Algert Global LLC owned approximately 0.50% of Cryoport worth $2,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its holdings in shares of Cryoport by 27.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,638 shares of the company's stock valued at $277,000 after acquiring an additional 3,400 shares in the last quarter. Lazard Asset Management LLC grew its stake in Cryoport by 294.3% in the 1st quarter. Lazard Asset Management LLC now owns 5,378 shares of the company's stock valued at $95,000 after purchasing an additional 4,014 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Cryoport by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company's stock valued at $859,000 after purchasing an additional 1,438 shares during the last quarter. Comerica Bank raised its stake in shares of Cryoport by 73.0% during the 1st quarter. Comerica Bank now owns 3,481 shares of the company's stock worth $62,000 after purchasing an additional 1,469 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Cryoport in the 2nd quarter worth about $185,000. Hedge funds and other institutional investors own 92.90% of the company's stock.

Insider Transactions at Cryoport

In related news, CEO Jerrell Shelton sold 50,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $6.51, for a total value 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. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 10.10% of the company's stock.

Analyst Ratings Changes

CYRX has been the topic of a number of research analyst reports. UBS Group boosted their target price on shares of Cryoport from $7.00 to $9.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. B. Riley upgraded Cryoport from a "neutral" rating to a "buy" rating and cut their price target for the stock from $19.00 to $15.00 in a research note on Wednesday, July 31st. Jefferies Financial Group downgraded shares of Cryoport from a "buy" rating to a "hold" rating and dropped their price objective for the company from $20.00 to $8.00 in a report on Wednesday, August 7th. Roth Mkm reduced 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. Finally, Needham & Company LLC lowered 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $12.50.

Cryoport Price Performance

NASDAQ CYRX traded down $0.09 during trading hours on Thursday, hitting $7.09. The company had a trading volume of 348,438 shares, compared to its average volume of 569,971. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70. The firm has a market capitalization of $350.46 million, a price-to-earnings ratio of -2.10 and a beta of 1.63. Cryoport, Inc. 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 $7.43 and a 200 day simple moving average of $8.48.

Cryoport declared that its Board of Directors has authorized a share repurchase program on Tuesday, August 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 49.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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.