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

Cryoport, Inc. (NASDAQ:CYRXGet Free Report) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 4,170,000 shares, a growth of 6.6% from the February 29th total of 3,910,000 shares. Based on an average daily volume of 440,000 shares, the short-interest ratio is currently 9.5 days. Approximately 8.8% of the shares of the stock are sold short.

Cryoport Trading Up 3.3 %

Shares of CYRX traded up $0.59 on Wednesday, hitting $18.50. 55,558 shares of the stock traded hands, compared to its average volume of 455,454. Cryoport has a 1 year low of $9.00 and a 1 year high of $24.17. The stock’s 50 day moving average is $16.21 and its two-hundred day moving average is $14.48. The firm has a market capitalization of $906.13 million, a P/E ratio of -8.30 and a beta of 1.60. The company has a quick ratio of 11.16, a current ratio of 11.73 and a debt-to-equity ratio of 0.82.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CYRX. Needham & Company LLC cut their target price on shares of Cryoport from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Stephens restated an “equal weight” rating and set a $17.00 price objective on shares of Cryoport in a research report on Wednesday, March 13th. Finally, UBS Group increased their target price on Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Cryoport currently has an average rating of “Hold” and a consensus target price of $18.29.

Check Out Our Latest Report on CYRX

Insiders Place Their Bets

In related news, Director Ramkumar Mandalam sold 3,217 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $14.68, for a total transaction of $47,225.56. Following the sale, the director now owns 43,187 shares of the company’s stock, valued at $633,985.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Jerrell Shelton sold 57,039 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $15.30, for a total value of $872,696.70. Following the completion of the transaction, the chief executive officer now owns 634,352 shares in the company, valued at $9,705,585.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ramkumar Mandalam sold 3,217 shares of Cryoport stock in a transaction on Friday, March 15th. The stock was sold at an average price of $14.68, for a total value of $47,225.56. Following the transaction, the director now directly owns 43,187 shares of the company’s stock, valued at approximately $633,985.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,940 shares of company stock worth $1,147,538. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CYRX. Brown Capital Management LLC increased its stake in Cryoport by 2.9% in the second quarter. Brown Capital Management LLC now owns 7,703,852 shares of the company’s stock valued at $132,891,000 after purchasing an additional 214,763 shares during the last quarter. Vanguard Group Inc. grew its holdings in Cryoport by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 3,657,661 shares of the company’s stock valued at $56,657,000 after buying an additional 98,569 shares during the period. Cadian Capital Management LP increased its stake in shares of Cryoport by 30.4% during the 4th quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company’s stock valued at $53,659,000 after acquiring an additional 807,340 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Cryoport by 5.6% during the 2nd quarter. BlackRock Inc. now owns 3,347,536 shares of the company’s stock worth $57,745,000 after acquiring an additional 178,201 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Cryoport by 17.7% in the first quarter. Invesco Ltd. now owns 3,228,313 shares of the company’s stock worth $112,700,000 after acquiring an additional 485,972 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Cryoport Company Profile

(Get Free Report)

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.

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