CryoPort (NASDAQ:CYRX) Insider Mark Sawicki Sells 10,000 Shares of Stock

CryoPort, Inc. (NASDAQ:CYRX) insider Mark Sawicki sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $19.93, for a total value of $199,300.00. Following the completion of the sale, the insider owned 92,356 shares of the company’s stock, valued at approximately $1,840,655.08. This trade represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

CryoPort Stock Down 2.2%

Shares of CryoPort stock opened at $20.10 on Friday. CryoPort, Inc. has a 12-month low of $7.61 and a 12-month high of $21.78. The stock has a 50 day moving average price of $17.35 and a two-hundred day moving average price of $13.65. The stock has a market capitalization of $1.02 billion, a P/E ratio of -20.72 and a beta of 1.89.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). CryoPort had a negative net margin of 21.46% and a negative return on equity of 8.28%. The firm had revenue of $50.22 million during the quarter, compared to the consensus estimate of $48.66 million. Sell-side analysts anticipate that CryoPort, Inc. will post -0.88 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. KeyCorp raised their target price on CryoPort from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Robert W. Baird set a $26.00 price target on shares of CryoPort in a research note on Tuesday, October 13th. Piper Sandler raised shares of CryoPort to a “buy” rating in a report on Tuesday, October 13th. Guggenheim increased their price objective on shares of CryoPort from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. Finally, Roth Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of CryoPort in a report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, CryoPort presently has a consensus rating of “Moderate Buy” and an average target price of $21.69.

Hedge Funds Weigh In On CryoPort

A number of hedge funds have recently modified their holdings of CYRX. Wellington Management Group LLP acquired a new stake in CryoPort in the 2nd quarter valued at $8,398,000. Royce & Associates LP bought a new stake in shares of CryoPort in the 3rd quarter worth about $7,073,000. Squarepoint Ops LLC boosted its position in CryoPort by 685.1% in the second quarter. Squarepoint Ops LLC now owns 368,424 shares of the company’s stock valued at $5,784,000 after buying an additional 321,497 shares in the last quarter. Russell Investments Group Ltd. grew its stake in CryoPort by 376.7% during the third quarter. Russell Investments Group Ltd. now owns 399,047 shares of the company’s stock worth $6,943,000 after buying an additional 315,343 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in CryoPort during the second quarter worth about $3,363,000. 92.90% of the stock is owned by institutional investors and hedge funds.

CryoPort Company Profile

Cryoport, Inc. provides temperature-controlled supply chain services for the life sciences industry. Its offerings support the development and commercial distribution of cell and gene therapies, biologics, reproductive medicine products and other temperature-sensitive materials. The company’s services include specialized shipping systems and packaging, transportation management, cryogenic storage, shipment monitoring and logistics support. These solutions are designed to help customers maintain required conditions and manage the handling of sensitive materials across clinical and commercial supply chains.