Tonix Pharmaceuticals stock halted ahead of FDA approval news
Robert Stefanovich, Chief Financial Officer of Cryoport, Inc. (NASDAQ:CYRX), a company currently valued at $308 million, recently sold a portion of his holdings in the company, according to a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 5.29, indicating robust short-term financial health. On March 24, Stefanovich sold 1,070 shares of Cryoport common stock at an average price of $6.9416 per share, totaling approximately $7,427. This transaction was carried out to cover taxes due upon the vesting of restricted stock rights, as per the company’s policies. Following this sale, Stefanovich retains ownership of 190,349 shares in the company. The stock, which has shown significant volatility over the past year trading between $4.58 and $20.11, currently appears overvalued based on InvestingPro’s Fair Value analysis.
In other recent news, CryoPort reported its fourth-quarter 2024 financial results, revealing a larger-than-expected loss per share of -0.42, missing the forecast of -0.29. However, the company’s revenue exceeded expectations, reaching $59.53 million against the projected $58.64 million. UBS analyst John Sourbeer upgraded CryoPort’s stock rating from Neutral to Buy, setting a price target of $10.00, reflecting optimism about the company’s position in the cell and gene therapy sector. In contrast, Jefferies analyst Matthew Stanton reduced the price target for CryoPort to $6.50 while maintaining a Hold rating, noting the need for more clarity on growth trajectory and margin improvement. CryoPort also introduced the MVE Biological Solutions’ High-Efficiency 800 C cryogenic freezer, designed to enhance storage capabilities in various life sciences applications. The company’s revenue guidance for 2025 is set between $240 million and $250 million, with expectations of significant growth in commercial cell and gene therapy revenue. Additionally, CryoPort is targeting a return to positive adjusted EBITDA in 2025, driven by growth in life sciences services and new product launches. These developments reflect CryoPort’s strategic initiatives to address the evolving needs of the life sciences industry.
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