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Cryoport, Inc. (NASDAQ:CYRX) recently saw a transaction involving its Chief Scientific Officer, Mark W. Sawicki, who sold 1,349 shares of the company’s common stock. The shares were sold at an average price of $6.9416 each, totaling $9,364. Following this transaction, Sawicki holds 84,087 shares directly. The company, currently valued at $308 million, has seen its stock decline 20% year-to-date, trading near $6.22. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 5.29x, indicating robust short-term financial health.
This sale was executed to cover taxes due upon the vesting of restricted stock rights, as per the company’s policies. Such transactions are common among executives to manage tax obligations efficiently. InvestingPro subscribers have access to additional insights, including 6 key ProTips about Cryoport’s financial health and comprehensive analysis available in the Pro Research Report, helping investors make more informed decisions.
In other recent news, CryoPort reported its financial results for the fourth quarter of 2024, revealing a revenue of $59.53 million, which surpassed the expected $58.64 million. Despite this revenue beat, the company posted a larger-than-expected loss per share of -0.42, missing the forecast of -0.29. In related developments, Jefferies analyst Matthew Stanton adjusted the price target for CryoPort to $6.50 from $8.00, maintaining a Hold rating on the stock. Stanton noted that while the company’s revenue guidance for 2025 aligns with current predictions, investors may seek additional positive macroeconomic indicators.
Additionally, UBS analyst John Sourbeer upgraded CryoPort’s rating to Buy, setting a price target of $10.00, citing the company’s strong position in the cell and gene therapy sector. CryoPort also announced the launch of the MVE Biological Solutions’ High-Efficiency 800 C cryogenic freezer, designed to enhance storage capabilities for sensitive biological materials. This product introduction reflects CryoPort’s ongoing efforts to meet 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.
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