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

Cryoport, Inc. (NASDAQ:CYRX)’s share price 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 changing hands.

Wall Street Analyst Weigh In

Several research firms have commented on CYRX. Roth Mkm cut their price target on Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th. UBS Group upped their price objective on Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Guggenheim started coverage on Cryoport in a research note on Thursday, December 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.29.

Cryoport Stock Performance

The firm has a market capitalization of $420.66 million, a P/E ratio of -2.52 and a beta of 1.58. The stock has a 50-day moving average of $7.69 and a 200 day moving average of $7.82. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70.

Insider Buying and Selling

In other Cryoport news, CEO Jerrell Shelton sold 50,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $6.78, for a total value of $339,000.00. Following the transaction, the chief executive officer now directly owns 712,747 shares in the company, valued at approximately $4,832,424.66. This trade represents a 6.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ramkumar Mandalam sold 7,369 shares of the stock in a transaction on 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 transaction, the director now owns 59,497 shares in the company, valued at $443,847.62. The trade was a 11.02 % decrease in their ownership of the stock. 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 three months. Insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CYRX. NRI Wealth Management LC acquired a new position in shares of Cryoport in the 4th quarter valued at $149,000. JPMorgan Chase & Co. lifted its stake in shares of Cryoport by 1,464.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 305,237 shares of the company’s stock valued at $2,475,000 after purchasing an additional 285,726 shares during the period. Franklin Resources Inc. lifted its stake in shares of Cryoport by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 385,619 shares of the company’s stock valued at $3,127,000 after purchasing an additional 20,077 shares during the period. Barclays PLC lifted its stake in shares of Cryoport by 272.9% in the 3rd quarter. Barclays PLC now owns 81,417 shares of the company’s stock valued at $660,000 after purchasing an additional 59,582 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Cryoport by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company’s stock valued at $8,902,000 after purchasing an additional 38,520 shares during the period. 92.90% of the stock is currently owned by institutional investors.

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.