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In recent transactions reported by Cryoport, Inc. (NASDAQ:CYRX), Chief Financial Officer Robert Stefanovich sold shares of the company’s common stock. On March 10, Stefanovich sold 1,256 shares at an average price of $4.8791 per share, totaling approximately $6,128. The stock, which InvestingPro data shows has seen significant volatility with a beta of 1.67, has since risen to $6.65, marking a notable 31% gain over the past week.
The sale was conducted to cover taxes due upon the vesting of restricted stock rights. Prior to this, on March 9, Stefanovich converted 2,667 restricted stock rights to common stock shares as part of a planned vesting schedule. These transactions are part of routine financial management and align with Cryoport’s corporate policies. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 5.29, though it operates with a moderate debt-to-equity ratio of 0.68. Get access to 6 more exclusive InvestingPro Tips and comprehensive financial metrics with an InvestingPro subscription.
Following these transactions, Stefanovich holds 183,078 shares of Cryoport common stock, representing a significant stake in the company, which currently has a market capitalization of $332 million.
In other recent news, CryoPort Inc. reported its financial results for the fourth quarter of 2024, revealing a larger-than-expected loss per share of -0.42, missing the forecast of -0.29. Despite this, the company exceeded revenue expectations, achieving $59.53 million against the projected $58.64 million. CryoPort’s total annual revenues increased to $228.4 million, with a significant rise in gross margin to 45.8% from 40.6% the previous year. Looking ahead, CryoPort has set a revenue guidance of $240-$250 million for 2025, with expectations of high 20% growth in commercial cell and gene therapy revenue. The company is also targeting a return to positive adjusted EBITDA in 2025. In other developments, Jefferies analyst Matthew Stanton adjusted CryoPort’s stock price target to $6.50 from $8.00, maintaining a Hold rating. Stanton noted that while CryoPort’s fourth-quarter performance and 2025 revenue guidance are encouraging, investors may seek more clarity on the company’s growth trajectory and margin improvement strategy.
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