Cryoport, Inc. (NASDAQ:CYRX) Short Interest Up 6.6% in March

Cryoport, Inc. (NASDAQ:CYRX - Get Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 4,170,000 shares, an increase of 6.6% from the February 29th total of 3,910,000 shares. Currently, 8.8% of the company's stock are sold short. Based on an average trading volume of 440,000 shares, the days-to-cover ratio is presently 9.5 days.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Cryoport from $14.50 to $17.00 and gave the company a "neutral" rating in a research note on Friday, March 15th. Stephens reaffirmed an "equal weight" rating and issued a $17.00 price target on shares of Cryoport in a research note on Wednesday, March 13th. Finally, Needham & Company LLC cut their target price on Cryoport from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, March 13th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $18.29.

Insider Buying and Selling

In other news, CEO Jerrell Shelton sold 2,631 shares of the business's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $17.54, for a total value of $46,147.74. Following the completion of the sale, the chief executive officer now owns 692,182 shares of the company's stock, valued at approximately $12,140,872.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cryoport news, CEO Jerrell Shelton sold 2,631 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $17.54, for a total transaction of $46,147.74. Following the sale, the chief executive officer now directly owns 692,182 shares of the company's stock, valued at $12,140,872.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramkumar Mandalam sold 3,217 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $14.68, for a total transaction of $47,225.56. Following the sale, the director now owns 43,187 shares in the company, valued at approximately $633,985.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,940 shares of company stock worth $1,147,538. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cryoport

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Cryoport by 19.4% during the first quarter. JPMorgan Chase & Co. now owns 33,229 shares of the company's stock worth $1,160,000 after purchasing an additional 5,398 shares during the period. US Bancorp DE increased its stake in Cryoport by 16.6% in the 1st quarter. US Bancorp DE now owns 24,191 shares of the company's stock worth $844,000 after purchasing an additional 3,448 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Cryoport by 50.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,053 shares of the company's stock worth $280,000 after buying an additional 2,696 shares during the period. AlphaCrest Capital Management LLC raised its holdings in Cryoport by 64.3% during the 1st quarter. AlphaCrest Capital Management LLC now owns 11,007 shares of the company's stock worth $384,000 after buying an additional 4,307 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in Cryoport by 59.9% during the first quarter. MetLife Investment Management LLC now owns 21,874 shares of the company's stock valued at $764,000 after buying an additional 8,194 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company's stock.

Cryoport Price Performance

CYRX stock traded down $0.22 on Tuesday, hitting $17.91. 469,135 shares of the company's stock traded hands, compared to its average volume of 461,943. The company has a current ratio of 11.73, a quick ratio of 11.16 and a debt-to-equity ratio of 0.82. The stock has a market cap of $877.23 million, a price-to-earnings ratio of -8.18 and a beta of 1.60. Cryoport has a 1-year low of $9.00 and a 1-year high of $24.17. The stock has a fifty day moving average of $16.15 and a 200-day moving average of $14.45.

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.