CryoPort, Inc. (NASDAQ:CYRX) Director Ramkumar Mandalam Sells 40,728 Shares

CryoPort, Inc. (NASDAQ:CYRX - Get Free Report) Director Ramkumar Mandalam sold 40,728 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $7.24, for a total transaction of $294,870.72. Following the sale, the director directly owned 92,328 shares in the company, valued at approximately $668,454.72. This trade represents a 30.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ramkumar Mandalam also recently made the following trade(s):

• On Tuesday, June 24th, Ramkumar Mandalam sold 13,321 shares of CryoPort stock. The stock was sold at an average price of $7.01, for a total transaction of $93,380.21.
• On Friday, June 13th, Ramkumar Mandalam sold 624 shares of CryoPort stock. The stock was sold at an average price of $6.80, for a total value of $4,243.20.
• On Thursday, June 12th, Ramkumar Mandalam sold 1,895 shares of CryoPort stock. The stock was sold at an average price of $7.01, for a total transaction of $13,283.95.
• On Wednesday, June 11th, Ramkumar Mandalam sold 8,193 shares of CryoPort stock. The stock was sold at an average price of $7.06, for a total value of $57,842.58.
• On Monday, June 9th, Ramkumar Mandalam sold 5,622 shares of CryoPort stock. The shares were sold at an average price of $7.06, for a total transaction of $39,691.32.

CryoPort Trading Up 2.2%

NASDAQ:CYRX traded up $0.17 during mid-day trading on Thursday, reaching $7.98. 604,880 shares of the company's stock traded hands, compared to its average volume of 455,396. CryoPort, Inc. has a 12-month low of $4.58 and a 12-month high of $9.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.56 and a quick ratio of 5.24. The company has a 50 day moving average price of $6.87 and a 200-day moving average price of $6.63. The firm has a market capitalization of $400.12 million, a price-to-earnings ratio of -3.41 and a beta of 1.89.

CryoPort (NASDAQ:CYRX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.01. The business had revenue of $41.04 million for the quarter, compared to the consensus estimate of $56.19 million. CryoPort had a negative net margin of 50.15% and a negative return on equity of 11.03%. On average, sell-side analysts predict that CryoPort, Inc. will post -0.99 earnings per share for the current year.

Institutional Investors Weigh In On CryoPort

Several hedge funds have recently made changes to their positions in CYRX. Avanza Fonder AB boosted its holdings in shares of CryoPort by 31.4% during the 2nd quarter. Avanza Fonder AB now owns 10,882 shares of the company's stock valued at $81,000 after buying an additional 2,601 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of CryoPort by 7.3% during the second quarter. Assenagon Asset Management S.A. now owns 1,090,511 shares of the company's stock valued at $8,135,000 after purchasing an additional 73,949 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of CryoPort during the second quarter valued at approximately $123,000. Rhumbline Advisers boosted its position in shares of CryoPort by 23.8% in the 1st quarter. Rhumbline Advisers now owns 78,320 shares of the company's stock worth $476,000 after purchasing an additional 15,036 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in CryoPort by 106.4% during the first quarter. Acadian Asset Management LLC now owns 479,695 shares of the company's stock valued at $2,911,000 after buying an additional 247,288 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CYRX has been the subject of a number of recent research reports. Guggenheim restated a "buy" rating and issued a $10.00 target price on shares of CryoPort in a research report on Wednesday, April 16th. Morgan Stanley cut their price target on shares of CryoPort from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. BTIG Research reduced their price objective on CryoPort from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, July 7th. Roth Mkm reissued a "buy" rating and issued a $15.00 target price on shares of CryoPort in a research note on Tuesday, April 1st. Finally, UBS Group raised their price target on CryoPort from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $11.11.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.