CryoPort, Inc. $CYRX Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its CryoPort stake by 19.3% in the third quarter, selling 222,830 shares and retaining 929,481 shares worth approximately $16.2 million. Institutional investors collectively own 92.9% of CYRX.
• CryoPort reported quarterly revenue of $48.97 million, exceeding estimates, but its adjusted loss of $0.20 per share narrowly missed expectations. The company continues to have negative margins and analysts expect a full-year loss.
• Analyst sentiment remains favorable, with eight Buy ratings and two Holds. The consensus rating is Moderate Buy, with an average price target of $19.33 versus the stock’s reported $16.84 opening price.

Assenagon Asset Management S.A. lessened its holdings in CryoPort, Inc. (NASDAQ:CYRX - Free Report) by 19.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 929,481 shares of the company's stock after selling 222,830 shares during the period. Assenagon Asset Management S.A. owned 1.84% of CryoPort worth $16,173,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CYRX. Bank of New York Mellon Corp bought a new stake in shares of CryoPort during the 2nd quarter worth about $3,363,000. Wellington Management Group LLP acquired a new position in CryoPort in the 2nd quarter valued at about $8,398,000. Granahan Investment Management LLC raised its holdings in CryoPort by 475.0% in the 1st quarter. Granahan Investment Management LLC now owns 231,138 shares of the company's stock valued at $1,914,000 after acquiring an additional 190,938 shares during the period. Squarepoint Ops LLC raised its holdings in CryoPort by 685.1% in the 2nd quarter. Squarepoint Ops LLC now owns 368,424 shares of the company's stock valued at $5,784,000 after acquiring an additional 321,497 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in CryoPort by 62.9% in the 1st quarter. Renaissance Technologies LLC now owns 368,110 shares of the company's stock valued at $3,048,000 after acquiring an additional 142,070 shares during the period. Institutional investors own 92.90% of the company's stock.

Insiders Place Their Bets

In other CryoPort news, CEO Jerrell Shelton sold 28,800 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $14.91, for a total value of $429,408.00. Following the transaction, the chief executive officer directly owned 1,201,814 shares of the company's stock, valued at $17,919,046.74. This trade represents a 2.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is owned by corporate insiders.

CryoPort Price Performance

Shares of NASDAQ CYRX opened at $16.84 on Monday. The business has a fifty day moving average price of $16.46 and a two-hundred day moving average price of $14.65. The stock has a market capitalization of $852.95 million, a PE ratio of -18.71 and a beta of 1.96. CryoPort, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.36.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CYRX. Guggenheim boosted their price objective on CryoPort from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, October 1st. Weiss Ratings raised CryoPort from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. BTIG Research increased their target price on CryoPort from $25.00 to $26.00 and gave the stock a "buy" rating in a research note on Tuesday, October 13th. Robert W. Baird set a $26.00 target price on CryoPort in a research note on Tuesday, October 13th. Finally, Needham & Company LLC lifted their price target on CryoPort from $15.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, CryoPort has a consensus rating of "Moderate Buy" and an average target price of $19.33.

CryoPort Profile

CryoPort, Inc is a life sciences logistics company that provides temperature-controlled supply chain solutions for the development, manufacture and delivery of advanced therapies, biologics and other temperature-sensitive materials. Its services are used in areas including cell and gene therapy, regenerative medicine, pharmaceuticals, clinical research and reproductive medicine.

The company offers specialized shipping systems, cryogenic storage and monitoring technologies, logistics coordination, inventory management and related support services.

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