Cryoport, Inc. (NASDAQ:CYRX) Sees Large Decrease in Short Interest

Cryoport, Inc. (NASDAQ:CYRX - Get Free Report) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 2,080,000 shares, a decrease of 5.5% from the December 15th total of 2,200,000 shares. Approximately 4.4% of the shares of the company are sold short. Based on an average daily volume of 405,400 shares, the short-interest ratio is currently 5.1 days.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. 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. Roth Mkm cut their price objective 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. Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of Cryoport in a research report on Friday. Finally, Guggenheim began coverage on shares of Cryoport in a research note on Thursday, December 19th. They issued a "buy" rating and a $11.00 target price for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.29.

Insider Buying and Selling

In other Cryoport news, CEO Jerrell Shelton sold 50,000 shares of Cryoport stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $6.78, for a total transaction of $339,000.00. Following the completion of the transaction, the chief executive officer now owns 712,747 shares in the company, valued at approximately $4,832,424.66. The trade was a 6.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 shares were 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 sold 109,869 shares of company stock valued at $735,673 over the last ninety days. Corporate insiders own 10.10% of the company's stock.

Hedge Funds Weigh In On Cryoport

A number of hedge funds have recently made changes to their positions in CYRX. The Manufacturers Life Insurance Company increased its holdings in Cryoport by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company's stock valued at $122,000 after purchasing an additional 1,534 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Cryoport by 3.4% during the second quarter. Rhumbline Advisers now owns 64,158 shares of the company's stock worth $443,000 after purchasing an additional 2,086 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Cryoport by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 387,714 shares of the company's stock worth $3,144,000 after buying an additional 2,226 shares in the last quarter. Avanza Fonder AB purchased a new position in Cryoport in the 4th quarter valued at about $64,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cryoport during the third quarter valued at about $82,000. Hedge funds and other institutional investors own 92.90% of the company's stock.

Cryoport Price Performance

CYRX stock traded up $0.01 on Friday, hitting $7.50. 217,091 shares of the company were exchanged, compared to its average volume of 234,734. The business's fifty day moving average is $7.68 and its two-hundred day moving average is $7.86. Cryoport has a twelve month low of $5.32 and a twelve month high of $20.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70.

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.