Quest Partners LLC Buys 18,252 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Quest Partners LLC boosted its stake in Cryoport, Inc. (NASDAQ:CYRX) by 168.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,083 shares of the company’s stock after purchasing an additional 18,252 shares during the quarter. Quest Partners LLC’s holdings in Cryoport were worth $236,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its position in shares of Cryoport by 27.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,638 shares of the company’s stock worth $277,000 after buying an additional 3,400 shares during the period. Lazard Asset Management LLC grew its holdings in Cryoport by 294.3% during the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock valued at $95,000 after purchasing an additional 4,014 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Cryoport by 3.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company’s stock valued at $859,000 after purchasing an additional 1,438 shares in the last quarter. Comerica Bank raised its holdings in Cryoport by 73.0% in the first quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after purchasing an additional 1,469 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Cryoport during the second quarter worth $185,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insider Buying and Selling

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

Cryoport Trading Up 8.0 %

NASDAQ CYRX opened at $7.18 on Wednesday. The stock has a market capitalization of $354.91 million, a price-to-earnings ratio of -2.12 and a beta of 1.63. Cryoport, Inc. has a 52 week low of $5.32 and a 52 week high of $20.10. The stock’s 50 day moving average price is $7.47 and its two-hundred day moving average price is $8.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70.

Cryoport announced that its board has initiated a stock repurchase program on Tuesday, August 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 49.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

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.