CryoPort, Inc. $CYRX Shares Acquired by Meros Investment Management LP

Key Points

• Meros Investment Management LP increased its CryoPort stake by 13.9% in the fourth quarter, ending with 626,427 shares valued at about $6.0 million.
• Insider selling was notable, with CFO Robert Stefanovich and Director Ramkumar Mandalam both trimming holdings; insiders sold a total of 232,970 shares worth $3.67 million over the last quarter.
• Analyst sentiment remains constructive, with eight Buy ratings and a consensus “Moderate Buy” view; the average price target is $15.11, above the recent opening price of $14.83.

Meros Investment Management LP grew its position in CryoPort, Inc. (NASDAQ:CYRX - Free Report) by 13.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 626,427 shares of the company's stock after purchasing an additional 76,687 shares during the period. CryoPort makes up 2.4% of Meros Investment Management LP's holdings, making the stock its 19th largest position. Meros Investment Management LP owned approximately 1.25% of CryoPort worth $6,014,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CYRX. Mak Capital One LLC acquired a new stake in CryoPort during the third quarter worth about $7,756,000. UBS Group AG grew its holdings in CryoPort by 112.7% during the third quarter. UBS Group AG now owns 1,331,521 shares of the company's stock worth $12,623,000 after acquiring an additional 705,649 shares during the period. Millennium Management LLC grew its holdings in CryoPort by 18.5% during the third quarter. Millennium Management LLC now owns 2,620,906 shares of the company's stock worth $24,846,000 after acquiring an additional 408,335 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in CryoPort by 283.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 524,288 shares of the company's stock worth $4,970,000 after acquiring an additional 387,440 shares during the period. Finally, First Eagle Investment Management LLC acquired a new stake in CryoPort during the fourth quarter worth about $2,996,000. 92.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Robert Stefanovich sold 169,427 shares of CryoPort stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $16.27, for a total transaction of $2,756,577.29. Following the transaction, the chief financial officer owned 109,850 shares in the company, valued at approximately $1,787,259.50. This trade represents a 60.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ramkumar Mandalam sold 23,214 shares of CryoPort stock in a transaction that occurred 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 transaction, the director owned 67,894 shares in the company, valued at approximately $1,048,283.36. The trade was a 25.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 232,970 shares of company stock worth $3,666,107 over the last quarter. 10.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CYRX. Guggenheim raised their target price on CryoPort from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Jefferies Financial Group set a $13.50 target price on CryoPort in a report on Monday, June 8th. Weiss Ratings raised CryoPort from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Wall Street Zen raised CryoPort from a "sell" rating to a "hold" rating in a report on Monday, May 11th. Finally, Needham & Company LLC raised their price objective on CryoPort from $13.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $15.11.

CryoPort Trading Up 1.4%

Shares of CYRX opened at $14.83 on Tuesday. CryoPort, Inc. has a 12 month low of $6.16 and a 12 month high of $16.73. The stock's 50 day moving average is $12.54 and its two-hundred day moving average is $10.38. The firm has a market cap of $747.43 million, a P/E ratio of 10.99 and a beta of 1.90.

CryoPort (NASDAQ:CYRX - Get Free Report) last released its earnings results on Monday, May 4th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.03). The firm had revenue of $47.80 million during the quarter, compared to analysts' expectations of $44.86 million. CryoPort had a net margin of 41.57% and a negative return on equity of 7.92%. Equities research analysts forecast that CryoPort, Inc. will post -0.85 EPS for the current year.

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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