Dynamic Technology Lab Private Ltd Purchases New Shares in Cryoport, Inc. (NASDAQ:CYRX)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Cryoport, Inc. (NASDAQ:CYRX) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 10,170 shares of the company’s stock, valued at approximately $82,000.

A number of other large investors also recently modified their holdings of CYRX. AXA S.A. grew its stake in shares of Cryoport by 274.2% in the 2nd quarter. AXA S.A. now owns 873,217 shares of the company’s stock worth $6,034,000 after purchasing an additional 639,855 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Cryoport in the second quarter worth $774,000. Assenagon Asset Management S.A. raised its stake in Cryoport by 52.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company’s stock valued at $10,211,000 after purchasing an additional 511,064 shares during the last quarter. SG Americas Securities LLC raised its stake in Cryoport by 278.6% during the 3rd quarter. SG Americas Securities LLC now owns 101,359 shares of the company’s stock valued at $822,000 after purchasing an additional 74,590 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Cryoport in the 2nd quarter valued at $378,000. 92.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. 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. Jefferies Financial Group lowered shares of Cryoport from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. UBS Group raised their target price on shares of Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Needham & Company LLC lowered their target price on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Cryoport currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Cryoport Stock Down 4.4 %

Shares of Cryoport stock opened at $7.44 on Wednesday. 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 1 year low of $5.32 and a 1 year high of $20.10. The stock has a fifty day moving average price of $7.36 and a 200-day moving average price of $8.31.

Cryoport announced that its board has approved a stock buyback program on Tuesday, August 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 49.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Cryoport news, CEO Jerrell Shelton sold 50,000 shares of Cryoport 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 directly owns 731,897 shares of the company’s stock, valued at $4,764,649.47. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 102,500 shares of company stock worth $680,700 in the last quarter. 10.10% of the stock is owned by company insiders.

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.