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

Cryoport, Inc. (NASDAQ:CYRX - Get Free Report) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 2,080,000 shares, a decline of 5.5% from the December 31st total of 2,200,000 shares. Currently, 4.4% of the shares of the company are short sold. Based on an average trading volume of 405,400 shares, the days-to-cover ratio is presently 5.1 days.

Analyst Ratings Changes

CYRX has been the subject of several recent analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price target on shares of Cryoport in a report on Friday, January 17th. Guggenheim began coverage on Cryoport in a research report on Thursday, December 19th. They set a "buy" rating and a $11.00 price target for the company. Roth Mkm dropped their target price on shares of Cryoport from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Finally, UBS Group boosted their price objective on Cryoport from $7.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Cryoport has a consensus rating of "Moderate Buy" and an average target price of $12.29.

Insider Transactions at Cryoport

In related news, CEO Jerrell Shelton sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $6.78, for a total value of $339,000.00. Following the completion of the transaction, the chief executive officer now directly owns 712,747 shares of the company's stock, valued at $4,832,424.66. This trade represents a 6.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ramkumar Mandalam sold 7,369 shares of Cryoport stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $7.46, for a total value of $54,972.74. Following the transaction, the director now directly owns 59,497 shares of the company's stock, 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 a total of 109,869 shares of company stock worth $735,673 over the last ninety days. 10.10% of the stock is currently owned by company insiders.

Institutional Trading of Cryoport

A number of hedge funds have recently made changes to their positions in CYRX. Avanza Fonder AB bought a new position in Cryoport during the 4th quarter valued at $64,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Cryoport during the third quarter worth about $82,000. Intech Investment Management LLC bought a new position in shares of Cryoport during the third quarter worth about $105,000. Olympiad Research LP acquired a new position in Cryoport in the fourth quarter worth about $103,000. Finally, Hsbc Holdings PLC bought a new stake in Cryoport in the second quarter valued at about $92,000. Institutional investors and hedge funds own 92.90% of the company's stock.

Cryoport Stock Up 4.9 %

CYRX stock traded up $0.34 during trading on Wednesday, reaching $7.33. The stock had a trading volume of 205,714 shares, compared to its average volume of 268,201. The firm has a fifty day moving average price of $7.87 and a 200 day moving average price of $7.92. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $362.32 million, a P/E ratio of -2.17 and a beta of 1.59. Cryoport has a 1-year low of $5.32 and a 1-year high of $20.10.

Cryoport (NASDAQ:CYRX - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.23. Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. The business had revenue of $56.66 million for the quarter, compared to analysts' expectations of $58.13 million. During the same quarter in the previous year, the firm posted ($0.31) earnings per share. On average, equities analysts anticipate that Cryoport will post -0.99 earnings per share for the current year.

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.