Fred Alger Management LLC Has $15.40 Million Stock Holdings in CryoPort, Inc. $CYRX

Key Points

• Fred Alger Management LLC reduced its stake in CryoPort, Inc. by 1.3%, now owning 2,532,362 shares valued at approximately $15.4 million as of its latest filing.
• Numerous institutional investors, including Millennium Management LLC and Silvercrest Asset Management Group LLC, have increased their holdings in CryoPort, indicating a diverse interest among hedge funds.
• Despite a revenue of $45.45 million reported in the latest quarterly earnings, CryoPort posted a loss of ($0.29) earnings per share, missing consensus estimates.

Fred Alger Management LLC decreased its holdings in CryoPort, Inc. (NASDAQ:CYRX - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,532,362 shares of the company's stock after selling 34,575 shares during the quarter. Fred Alger Management LLC owned about 5.05% of CryoPort worth $15,397,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CYRX. Point72 Asia Singapore Pte. Ltd. raised its position in CryoPort by 148.7% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,546 shares of the company's stock worth $28,000 after buying an additional 2,120 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of CryoPort during the 4th quarter worth $51,000. SBI Securities Co. Ltd. grew its stake in shares of CryoPort by 548,750.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 10,977 shares of the company's stock worth $67,000 after purchasing an additional 10,975 shares during the period. CWM LLC grew its stake in shares of CryoPort by 1,437.0% during the 1st quarter. CWM LLC now owns 11,328 shares of the company's stock worth $69,000 after purchasing an additional 10,591 shares during the period. Finally, GAMMA Investing LLC grew its stake in CryoPort by 4,434.6% in the 1st quarter. GAMMA Investing LLC now owns 14,556 shares of the company's stock valued at $89,000 after acquiring an additional 14,235 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

Insider Activity

In other CryoPort news, CFO Robert Stefanovich sold 9,300 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $8.67, for a total transaction of $80,631.00. Following the completion of the sale, the chief financial officer directly owned 207,213 shares of the company's stock, valued at approximately $1,796,536.71. This represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Hariri sold 5,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $8.60, for a total transaction of $43,000.00. Following the completion of the sale, the director directly owned 26,275 shares of the company's stock, valued at $225,965. This trade represents a 15.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 425,037 shares of company stock valued at $2,921,501 over the last ninety days. Corporate insiders own 10.00% of the company's stock.

CryoPort Stock Down 1.3%

CYRX traded down $0.12 during trading on Thursday, hitting $9.47. The company had a trading volume of 534,415 shares, compared to its average volume of 520,496. The company has a debt-to-equity ratio of 0.39, a current ratio of 16.24 and a quick ratio of 15.47. CryoPort, Inc. has a 1-year low of $4.58 and a 1-year high of $10.46. The business has a 50-day moving average of $8.21 and a 200-day moving average of $6.88. The company has a market cap of $474.16 million, a PE ratio of 7.12 and a beta of 1.62.

CryoPort (NASDAQ:CYRX - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.09). The business had revenue of $45.45 million for the quarter, compared to the consensus estimate of $41.74 million. CryoPort had a net margin of 37.21% and a negative return on equity of 9.79%. CryoPort has set its FY 2025 guidance at EPS. As a group, analysts forecast that CryoPort, Inc. will post -0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CYRX. Leerink Partnrs raised shares of CryoPort from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. KeyCorp raised shares of CryoPort from a "sector weight" rating to an "overweight" rating and set a $15.00 price target on the stock in a research note on Wednesday, August 6th. BTIG Research decreased their target price on shares of CryoPort from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, July 7th. Leerink Partners raised shares of CryoPort from a "market perform" rating to an "outperform" rating and set a $16.00 target price on the stock in a research report on Wednesday, August 6th. Finally, Stephens assumed coverage on shares of CryoPort in a research report on Tuesday, July 22nd. They issued an "overweight" rating and a $13.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $12.00.

About CryoPort

Cryoport, Inc provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoport Express Shippers; Cryoport ELITE -80°C Gene Therapy Shipper; Cryoport ELITE Cryosphere Shipper; Cryoport consulting services, including physical, thermal, and shipping qualifications of shipping systems and/or packaging to developing custom packaging solutions; and Cryoport bioservices, such as controlled temperature storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and GMP raw materials storage services.