Quest Partners LLC Has $236,000 Position in Cryoport, Inc. (NASDAQ:CYRX)

Quest Partners LLC lifted its holdings in shares of Cryoport, Inc. (NASDAQ:CYRX) by 168.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 29,083 shares of the company’s stock after acquiring an additional 18,252 shares during the period. Quest Partners LLC owned approximately 0.06% of Cryoport worth $236,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Greenwood Capital Associates LLC lifted its stake in Cryoport by 134.4% during the third quarter. Greenwood Capital Associates LLC now owns 79,333 shares of the company’s stock worth $643,000 after purchasing an additional 45,488 shares during the period. Evanson Asset Management LLC acquired a new position in shares of Cryoport in the 3rd quarter worth approximately $406,000. SG Americas Securities LLC lifted its position in shares of Cryoport by 278.6% during the 3rd quarter. SG Americas Securities LLC now owns 101,359 shares of the company’s stock worth $822,000 after buying an additional 74,590 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Cryoport in the 2nd quarter valued at $378,000. Finally, The Manufacturers Life Insurance Company grew its position in Cryoport by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock valued at $122,000 after acquiring an additional 1,534 shares during the period. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the completion of the sale, the chief executive officer now directly owns 731,897 shares of the company’s stock, valued at approximately $4,764,649.47. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CYRX. Needham & Company LLC reduced their target price on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Roth Mkm decreased their price objective on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. B. Riley upgraded shares of Cryoport from a “neutral” rating to a “buy” rating and cut their target price for the company from $19.00 to $15.00 in a research note on Wednesday, July 31st. UBS Group increased their price target on Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group lowered Cryoport from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Cryoport currently has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Cryoport Stock Performance

CYRX stock opened at $7.18 on Wednesday. The company has a 50 day moving average price of $7.47 and a 200 day moving average price of $8.53. Cryoport, Inc. has a fifty-two week low of $5.32 and a fifty-two week high of $20.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. The stock has a market capitalization of $354.91 million, a PE ratio of -2.12 and a beta of 1.63.

Cryoport announced that its board has authorized a share buyback program on Tuesday, August 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 49.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.