Bank of America Corp DE Sells 113,104 Shares of CryoPort, Inc. $CYRX

Bank of America Corp DE decreased its position in CryoPort, Inc. (NASDAQ:CYRX - Free Report) by 44.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,131 shares of the company's stock after selling 113,104 shares during the quarter. Bank of America Corp DE owned 0.28% of CryoPort worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CYRX. Millennium Management LLC boosted its stake in shares of CryoPort by 23.8% in the 4th quarter. Millennium Management LLC now owns 3,244,802 shares of the company's stock valued at $31,150,000 after purchasing an additional 623,896 shares in the last quarter. Vanguard Group Inc. raised its position in CryoPort by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,858,031 shares of the company's stock worth $27,094,000 after purchasing an additional 69,550 shares during the period. Assenagon Asset Management S.A. lifted its stake in CryoPort by 0.6% in the first quarter. Assenagon Asset Management S.A. now owns 1,495,683 shares of the company's stock worth $12,384,000 after purchasing an additional 8,280 shares during the last quarter. UBS Group AG lifted its stake in CryoPort by 6.8% in the fourth quarter. UBS Group AG now owns 1,421,884 shares of the company's stock worth $13,650,000 after purchasing an additional 90,363 shares during the last quarter. Finally, Mak Capital One LLC lifted its stake in CryoPort by 46.6% in the fourth quarter. Mak Capital One LLC now owns 1,199,225 shares of the company's stock worth $11,513,000 after purchasing an additional 381,063 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

CryoPort Stock Performance

NASDAQ CYRX opened at $15.81 on Friday. CryoPort, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $17.20. The stock has a market cap of $800.78 million, a P/E ratio of -17.57 and a beta of 1.89. The stock has a 50 day simple moving average of $15.71 and a two-hundred day simple moving average of $12.80.

CryoPort (NASDAQ:CYRX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $48.97 million during the quarter, compared to the consensus estimate of $48.18 million. CryoPort had a negative net margin of 20.05% and a negative return on equity of 7.20%. Sell-side analysts predict that CryoPort, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CYRX has been the subject of several analyst reports. Weiss Ratings cut CryoPort from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, August 17th. Needham & Company LLC boosted their price objective on CryoPort from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Guggenheim increased their price objective on CryoPort from $12.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, August 7th. BTIG Research raised their target price on shares of CryoPort from $17.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $21.00 target price on shares of CryoPort in a research note on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CryoPort currently has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Insider Buying and Selling at CryoPort

In related news, insider Edward J. Zecchini sold 33,600 shares of CryoPort stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $14.47, for a total transaction of $486,192.00. Following the sale, the insider directly owned 109,719 shares in the company, valued at $1,587,633.93. The trade was a 23.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ramkumar Mandalam sold 23,214 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $15.44, for a total value of $358,424.16. Following the completion of the sale, the director directly owned 67,894 shares in the company, valued at approximately $1,048,283.36. The trade was a 25.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 87,014 shares of company stock valued at $1,295,346. 9.50% of the stock is currently owned by corporate insiders.

CryoPort Company Profile

CryoPort, Inc NASDAQ: CYRX is a global provider of temperature-controlled logistics solutions for the life sciences industry. The company specializes in cryogenic shipping for critical biological materials, supporting the development, clinical testing and commercialization of cell and gene therapies, biologics, vaccines and reproductive medicine. By offering end-to-end supply chain management, CryoPort helps ensure the integrity and viability of temperature-sensitive products from point of origin to destination.

CryoPort's product portfolio includes proprietary cryogenic dry shippers, advanced active and passive thermal packaging, and real-time data monitoring platforms.

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