Daniel M. Hancock Sells 10,000 Shares of Cryoport, Inc. (NASDAQ:CYRX) Stock

Cryoport, Inc. (NASDAQ:CYRX) Director Daniel M. Hancock sold 10,000 shares of the company’s stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $60.02, for a total transaction of $600,200.00. Following the completion of the sale, the director now directly owns 14,627 shares in the company, valued at approximately $877,912.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of CYRX stock opened at $60.30 on Friday. Cryoport, Inc. has a 1 year low of $23.92 and a 1 year high of $84.97. The business’s 50 day moving average is $54.45. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -31.90 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 11.08 and a quick ratio of 10.78.

Cryoport (NASDAQ:CYRX) last announced its earnings results on Tuesday, May 4th. The consumer goods maker reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.08. Cryoport had a negative net margin of 26.41% and a positive return on equity of 3.17%. The company had revenue of $53.30 million for the quarter, compared to analyst estimates of $46.78 million. During the same period in the prior year, the business earned ($0.11) earnings per share. Cryoport’s quarterly revenue was up 443.9% on a year-over-year basis. Equities research analysts anticipate that Cryoport, Inc. will post -0.49 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in CYRX. Blackstone Group Inc. lifted its holdings in Cryoport by 194.3% in the first quarter. Blackstone Group Inc. now owns 1,988,396 shares of the consumer goods maker’s stock valued at $103,416,000 after buying an additional 1,312,860 shares during the period. Granite Investment Partners LLC lifted its holdings in Cryoport by 141.0% in the first quarter. Granite Investment Partners LLC now owns 1,127,374 shares of the consumer goods maker’s stock valued at $58,635,000 after buying an additional 659,542 shares during the period. BlackRock Inc. lifted its holdings in Cryoport by 17.0% in the first quarter. BlackRock Inc. now owns 3,400,620 shares of the consumer goods maker’s stock valued at $176,867,000 after buying an additional 493,306 shares during the period. Bamco Inc. NY lifted its holdings in Cryoport by 135.1% in the fourth quarter. Bamco Inc. NY now owns 524,691 shares of the consumer goods maker’s stock valued at $23,023,000 after buying an additional 301,500 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in Cryoport in the first quarter valued at approximately $14,584,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Several analysts have weighed in on the stock. SVB Leerink upped their price objective on shares of Cryoport from $50.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 2nd. UBS Group assumed coverage on shares of Cryoport in a research note on Monday, March 15th. They set a “buy” rating and a $84.00 price objective on the stock. Needham & Company LLC upped their price objective on shares of Cryoport from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, May 5th. Finally, Zacks Investment Research raised shares of Cryoport from a “sell” rating to a “hold” rating in a research note on Friday, May 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Cryoport has an average rating of “Buy” and an average target price of $72.57.

About Cryoport

Cryoport, Inc, a life sciences services company, provides temperature-controlled logistics solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking and monitoring, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, which is used to ensure that the stability of shipped biologic commodities are maintained throughout the shipping cycle; and Cryoport Express Advanced Therapy Shippers that provides verification processes to biopharma companies.

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