Readystate Asset Management LP Sells 86,399 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Readystate Asset Management LP cut its stake in shares of Cryoport, Inc. (NASDAQ:CYRX - Free Report) by 20.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 333,966 shares of the company's stock after selling 86,399 shares during the quarter. Readystate Asset Management LP owned approximately 0.68% of Cryoport worth $2,708,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Bank lifted its holdings in shares of Cryoport by 73.0% during the first 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. Quest Partners LLC raised its holdings in shares of 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 during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Cryoport in the third quarter valued at about $82,000. Hsbc Holdings PLC bought a new position in shares of Cryoport in the second quarter valued at about $92,000. Finally, Intech Investment Management LLC bought a new position in shares of Cryoport in the third quarter valued at about $105,000. 92.90% of the stock is owned by institutional investors.

Insider Activity at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 50,000 shares of Cryoport stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the transaction, the chief executive officer now directly owns 731,897 shares in the company, valued at approximately $4,764,649.47. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ramkumar Mandalam sold 7,369 shares of Cryoport stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $7.46, for a total value 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 disclosure for this sale can be found here. Insiders have sold 109,869 shares of company stock worth $735,673 in the last ninety days. Company insiders own 10.10% of the company's stock.

Cryoport Stock Down 3.3 %

Shares of NASDAQ:CYRX traded down $0.25 during midday trading on Thursday, hitting $7.25. The company had a trading volume of 71,634 shares, compared to its average volume of 563,146. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48. Cryoport, Inc. has a 12 month low of $5.32 and a 12 month high of $20.10. The firm has a fifty day simple moving average of $7.34 and a 200 day simple moving average of $8.27.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CYRX. Needham & Company LLC cut their price target on Cryoport from $18.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Roth Mkm cut their price target on Cryoport from $18.00 to $15.00 and set a "buy" rating for the company in a report on Friday, November 8th. UBS Group lifted their price target on Cryoport from $7.00 to $9.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Finally, Jefferies Financial Group cut Cryoport from a "buy" rating to a "hold" rating and cut their price target for the company from $20.00 to $8.00 in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $12.50.

Cryoport 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.