Cryoport (NASDAQ:CYRX) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Cryoport, Inc. (NASDAQ:CYRX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.82 and traded as high as $8.61. Cryoport shares last traded at $8.51, with a volume of 291,213 shares trading hands.

Analyst Ratings Changes

CYRX has been the topic of several research analyst reports. Roth Mkm dropped their price objective on Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Guggenheim initiated coverage on Cryoport in a research note on Thursday, December 19th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, UBS Group raised 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Cryoport has an average rating of “Moderate Buy” and a consensus target price of $12.29.

Cryoport Trading Down 3.5 %

The company has a market capitalization of $420.66 million, a P/E ratio of -2.52 and a beta of 1.58. The business has a fifty day moving average price of $7.69 and a 200 day moving average price of $7.82. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48.

Insider Activity

In related 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 value of $325,500.00. Following the sale, the chief executive officer now owns 731,897 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the director now directly owns 59,497 shares in the company, valued at approximately $443,847.62. This 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 three months. Corporate insiders own 10.10% of the company’s stock.

Institutional Trading of Cryoport

A number of hedge funds and other institutional investors have recently modified their holdings of CYRX. Quest Partners LLC increased its position in Cryoport by 1,083,000.0% during the second quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock worth $75,000 after buying an additional 10,830 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Cryoport during the third quarter worth approximately $82,000. Hsbc Holdings PLC acquired a new position in Cryoport during the second quarter worth approximately $92,000. Intech Investment Management LLC acquired a new position in Cryoport during the third quarter worth approximately $105,000. Finally, The Manufacturers Life Insurance Company increased its position in Cryoport by 9.5% during the second quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock worth $122,000 after buying an additional 1,534 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

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.