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

Cryoport, Inc. (NASDAQ:CYRX) was the recipient of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 2,500,000 shares, a drop of 7.4% from the November 15th total of 2,700,000 shares. Based on an average daily volume of 442,400 shares, the days-to-cover ratio is presently 5.7 days. Currently, 5.3% of the shares of the company are short sold.

Cryoport Price Performance

NASDAQ:CYRX opened at $8.14 on Wednesday. The stock has a market cap of $402.37 million, a P/E ratio of -2.41 and a beta of 1.62. Cryoport has a one year low of $5.32 and a one year high of $20.10. The company has a fifty day moving average price of $7.31 and a 200 day moving average price of $8.06. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32.

Insider Activity at Cryoport

In other news, CEO Jerrell Shelton sold 50,000 shares of Cryoport stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $6.51, for a total value of $325,500.00. Following the transaction, the chief executive officer now 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 SEC, which is accessible through this link. Also, Director Ramkumar Mandalam sold 7,369 shares of Cryoport stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $7.46, for a total transaction of $54,972.74. Following the completion of the transaction, the director now directly owns 59,497 shares in the company, valued at $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 in the last ninety days. 10.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Cryoport

Several large investors have recently bought and sold shares of CYRX. Comerica Bank grew its holdings in shares of Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after purchasing an additional 1,469 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Cryoport by 9.5% during the 2nd 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 period. Rhumbline Advisers raised its holdings in Cryoport by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock worth $443,000 after buying an additional 2,086 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Cryoport by 0.6% during 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 during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Cryoport during the 3rd quarter worth approximately $82,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CYRX has been the topic of several analyst reports. Roth Mkm dropped their target price on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. UBS Group boosted their price objective on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Cryoport currently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

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.