Intel stock spikes after report of possible US government stake
Jerrell Shelton, President and CEO of Cryoport, Inc. (NASDAQ:CYRX), recently sold 2,980 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were sold on March 24 at an average price of $6.9416 per share, totaling approximately $20,685. Following the transaction, Shelton holds 762,419 shares in the company. The sale comes as Cryoport, currently valued at $308 million, trades near $6.22, down about 64% over the past year. According to InvestingPro analysis, the stock appears overvalued at current levels.
The sale was conducted to comply with Cryoport’s policies for covering taxes due upon the vesting of restricted stock rights. This transaction reflects the ongoing management of executive equity compensation at the life sciences company, known for its temperature-controlled supply chain solutions. InvestingPro data shows the company maintains strong liquidity with a current ratio of 5.29, though it operates with moderate debt levels. Get access to 12+ additional InvestingPro Tips and comprehensive financial analysis in the Pro Research Report, available exclusively to subscribers.
In other recent news, CryoPort reported its financial results for the fourth quarter of 2024, showcasing a revenue of $59.53 million, which exceeded analysts’ expectations of $58.64 million. Despite this revenue beat, the company posted a larger-than-expected loss per share of -0.42, missing the forecasted -0.29. CryoPort also announced the launch of the MVE Biological Solutions’ High-Efficiency 800 C cryogenic freezer, designed to enhance storage capabilities in the life sciences sector. UBS analyst John Sourbeer upgraded CryoPort’s stock rating to Buy, setting a price target of $10, citing the company’s strong position in the cell and gene therapy (CGT) sector. Conversely, Jefferies analyst Matthew Stanton lowered CryoPort’s price target to $6.50 while maintaining a Hold rating, noting the company’s earnings slightly exceeded expectations but expressing the need for more confidence in its future guidance. Furthermore, CryoPort aims for a positive adjusted EBITDA in 2025, driven by growth in life sciences services and new product launches. The company has set a revenue guidance of $240-$250 million for 2025, with expectations of high 20% growth in commercial cell and gene therapy revenue. These developments reflect CryoPort’s ongoing efforts to address industry challenges and capitalize on growth opportunities.
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