JPMorgan Chase & Co. Buys 285,726 Shares of Cryoport, Inc. (NASDAQ:CYRX)

JPMorgan Chase & Co. grew its stake in Cryoport, Inc. (NASDAQ:CYRX) by 1,464.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 305,237 shares of the company’s stock after purchasing an additional 285,726 shares during the quarter. JPMorgan Chase & Co. owned about 0.62% of Cryoport worth $2,475,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new position in Cryoport in the third quarter worth about $82,000. Hsbc Holdings PLC bought a new position in shares of Cryoport in the 2nd quarter worth approximately $92,000. Intech Investment Management LLC purchased a new position in shares of Cryoport in the 3rd quarter valued at approximately $105,000. The Manufacturers Life Insurance Company boosted its position in shares of Cryoport by 9.5% during the second quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock valued at $122,000 after purchasing an additional 1,534 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Cryoport in the second quarter worth $198,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cryoport

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 completion of the sale, the chief executive officer now directly owns 731,897 shares in the company, valued at approximately $4,764,649.47. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramkumar Mandalam sold 7,369 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $7.46, for a total transaction of $54,972.74. Following the transaction, the director now 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 sold 109,869 shares of company stock valued at $735,673 over the last 90 days. Corporate insiders own 10.10% of the company’s stock.

Cryoport Stock Up 0.1 %

Shares of Cryoport stock opened at $7.50 on Tuesday. The company has a 50-day simple moving average of $7.67 and a two-hundred day simple moving average of $7.88. Cryoport, Inc. has a 52-week low of $5.32 and a 52-week high of $20.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70. The stock has a market capitalization of $370.73 million, a PE ratio of -2.22 and a beta of 1.58.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Cryoport in a report on Friday. Guggenheim initiated coverage on shares of Cryoport in a research note on Thursday, December 19th. They set a “buy” rating and a $11.00 price objective on the stock. Roth Mkm decreased their target price on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, UBS Group boosted their price target on Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.29.

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.