Cryoport (NASDAQ:CYRX) Coverage Initiated at Guggenheim

Guggenheim started coverage on shares of Cryoport (NASDAQ:CYRX - Free Report) in a research note published on Thursday, Marketbeat.com reports. The firm issued a buy rating and a $11.00 price objective on the stock.

CYRX has been the topic of several other research reports. Roth Mkm decreased their target price on Cryoport from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. UBS Group increased their price objective on shares of Cryoport from $7.00 to $9.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and four have assigned 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 price target of $12.29.

Cryoport Stock Performance

NASDAQ:CYRX traded down $0.05 during trading on Thursday, reaching $7.74. The company's stock had a trading volume of 398,683 shares, compared to its average volume of 557,438. The firm has a market cap of $382.60 million, a price-to-earnings ratio of -2.29 and a beta of 1.62. The firm has a 50 day moving average of $7.35 and a 200-day moving average of $8.04. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70. Cryoport has a 12 month low of $5.32 and a 12 month high of $20.10.

Insiders Place Their Bets

In related news, CEO Jerrell Shelton sold 50,000 shares of the company'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 value of $325,500.00. Following the transaction, the chief executive officer now owns 731,897 shares in the company, valued at approximately $4,764,649.47. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ramkumar Mandalam sold 7,369 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $7.46, for a total transaction of $54,972.74. Following the completion of the sale, the director now owns 59,497 shares in the company, valued at $443,847.62. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,869 shares of company stock valued at $735,673 in the last 90 days. 10.10% of the stock is currently owned by insiders.

Institutional Trading of Cryoport

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. increased its position in Cryoport by 5.5% during the third quarter. Franklin Resources Inc. now owns 385,619 shares of the company's stock valued at $3,127,000 after acquiring an additional 20,077 shares during the last quarter. Barclays PLC raised its position in Cryoport by 272.9% during the third quarter. Barclays PLC now owns 81,417 shares of the company's stock valued at $660,000 after purchasing an additional 59,582 shares during the period. Geode Capital Management LLC raised its stake 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 during the period. Bullseye Asset Management LLC lifted its stake in Cryoport by 58.7% in the third quarter. Bullseye Asset Management LLC now owns 214,264 shares of the company's stock worth $1,737,000 after purchasing an additional 79,244 shares during the last quarter. Finally, State Street Corp increased its stake in Cryoport by 2.8% in the third quarter. State Street Corp now owns 1,003,080 shares of the company's stock worth $8,135,000 after purchasing an additional 27,438 shares during the period. Institutional investors own 92.90% of the company's stock.

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.