Bank of America Corp DE Sells 132,979 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Bank of America Corp DE lessened its stake in shares of Cryoport, Inc. (NASDAQ:CYRX - Free Report) by 61.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,476 shares of the company's stock after selling 132,979 shares during the period. Bank of America Corp DE owned 0.17% of Cryoport worth $657,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP acquired a new position in Cryoport during the 4th quarter worth $69,000. Nebula Research & Development LLC lifted its position in shares of Cryoport by 21.6% during the 4th quarter. Nebula Research & Development LLC now owns 12,442 shares of the company's stock worth $97,000 after purchasing an additional 2,207 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Cryoport by 135.5% during the 4th quarter. Russell Investments Group Ltd. now owns 12,875 shares of the company's stock valued at $100,000 after purchasing an additional 7,407 shares during the period. Olympiad Research LP acquired a new stake in Cryoport in the 4th quarter valued at approximately $103,000. Finally, Fox Run Management L.L.C. bought a new position in Cryoport in the 4th quarter worth approximately $111,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cryoport

In related news, insider Edward J. Zecchini sold 51,500 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $6.84, for a total value of $352,260.00. Following the transaction, the insider now owns 90,411 shares in the company, valued at $618,411.24. This trade represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jerrell Shelton sold 4,620 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $6.29, for a total value of $29,059.80. Following the sale, the chief executive officer now directly owns 765,399 shares of the company's stock, valued at $4,814,359.71. This represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,440 shares of company stock worth $552,336. 10.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CYRX. Roth Mkm reiterated a "buy" rating and set a $15.00 target price on shares of Cryoport in a research note on Tuesday, April 1st. Needham & Company LLC restated a "buy" rating and issued a $11.00 price objective on shares of Cryoport in a research note on Thursday, May 8th. UBS Group raised their price objective on shares of Cryoport from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Guggenheim reissued a "buy" rating and issued a $10.00 target price on shares of Cryoport in a research note on Wednesday, April 16th. Finally, 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 note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $11.00.

Cryoport Price Performance

Shares of CYRX traded down $0.23 on Friday, hitting $6.67. The company's stock had a trading volume of 426,088 shares, compared to its average volume of 531,268. The company has a market capitalization of $334.41 million, a PE ratio of -1.97 and a beta of 1.85. Cryoport, Inc. has a fifty-two week low of $4.58 and a fifty-two week high of $10.54. The company has a 50 day moving average price of $6.03 and a 200 day moving average price of $6.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32.

Cryoport (NASDAQ:CYRX - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. The company had revenue of $41.04 million for the quarter, compared to analysts' expectations of $56.19 million. On average, research analysts anticipate that Cryoport, Inc. will post -0.99 earnings per share for the current fiscal year.

About Cryoport

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.