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Mark Sawicki, the Chief Scientific Officer at Cryoport, Inc. (NASDAQ:CYRX), recently reported a stock sale valued at $13,162. According to a Form 4 filing with the Securities and Exchange Commission, Sawicki sold 2,092 shares of Cryoport common stock on March 17 at an average price of $6.2917 per share. This transaction was part of a requirement to cover taxes due upon the vesting of restricted stock rights. The company, currently valued at $310 million, has seen its stock decline nearly 59% over the past year, according to InvestingPro data.
In addition to the sale, Sawicki acquired 9,000 shares of common stock at no cost on March 14, as part of a restricted stock rights award. These shares are set to vest in four equal annual installments beginning March 14, 2026. With analyst price targets ranging from $6.50 to $15 per share, InvestingPro analysis reveals the stock exhibits high volatility while maintaining strong liquidity with a current ratio of 5.29.
Furthermore, Sawicki was granted stock options for 24,000 shares, which will vest monthly over four years starting April 14, 2025. These options have an exercise price of $7.05 per share and will expire on March 14, 2032.
Following these transactions, Sawicki now holds a total of 85,436 shares of Cryoport common stock.
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, reporting $59.53 million against a projected $58.64 million. Analysts at Jefferies, led by Matthew Stanton, subsequently adjusted the price target for Cryoport to $6.50 from $8.00, while maintaining a Hold rating, reflecting cautious optimism. Cryoport also introduced the MVE Biological Solutions’ High-Efficiency 800 C cryogenic freezer, aimed at enhancing storage capabilities for fertility clinics and laboratories. This product launch is part of Cryoport’s strategy to address the evolving needs of the life sciences industry. The company is targeting positive adjusted EBITDA in 2025, driven by growth in life sciences services and new product launches. Cryoport’s revenue guidance for 2025 stands at $240-$250 million, with expectations of significant growth in commercial cell and gene therapy revenue. These developments underscore Cryoport’s strategic initiatives and market positioning in the life sciences sector.
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