CryoPort, Inc. $CYRX Shares Sold by Fred Alger Management LLC

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 lowered its stake in shares of CryoPort, Inc. (NASDAQ:CYRX - Free Report) by 1.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,532,362 shares of the company's stock after selling 34,575 shares during the period. 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 institutional investors have also modified their holdings of CYRX. Dimensional Fund Advisors LP raised its stake in shares of CryoPort by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 850,216 shares of the company's stock valued at $6,615,000 after buying an additional 63,301 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of CryoPort by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 60,003 shares of the company's stock valued at $467,000 after buying an additional 4,902 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of CryoPort by 88.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 30,737 shares of the company's stock valued at $239,000 after buying an additional 14,438 shares during the last quarter. Deutsche Bank AG raised its stake in shares of CryoPort by 0.9% during the 4th quarter. Deutsche Bank AG now owns 1,397,121 shares of the company's stock valued at $10,870,000 after buying an additional 12,864 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of CryoPort by 20.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 408,385 shares of the company's stock valued at $3,177,000 after buying an additional 68,474 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

Wall Street Analysts Forecast Growth

CYRX has been the subject of several recent analyst reports. Leerink Partners upgraded CryoPort from a "market perform" rating to an "outperform" rating and set a $16.00 price target for the company in a research note on Wednesday, August 6th. Leerink Partnrs upgraded CryoPort from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. BTIG Research cut their price target on CryoPort from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, July 7th. Stephens initiated coverage on CryoPort in a research note on Tuesday, July 22nd. They issued an "overweight" rating and a $13.00 price target for the company. Finally, KeyCorp upgraded CryoPort from a "sector weight" rating to an "overweight" rating and set a $15.00 price target for the company in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $12.00.

Insider Transactions at CryoPort

In other news, Director Ramkumar Mandalam sold 40,728 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $7.24, for a total transaction of $294,870.72. Following the transaction, the director directly owned 92,328 shares in the company, valued at $668,454.72. The trade was a 30.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert J. Hariri sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $9.71, for a total value of $242,750.00. Following the transaction, the director owned 51,275 shares in the company, valued at approximately $497,880.25. This represents a 32.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 449,413 shares of company stock valued at $3,160,008 in the last 90 days. Corporate insiders own 10.10% of the company's stock.

CryoPort Price Performance

NASDAQ:CYRX traded down $0.83 during trading hours on Friday, hitting $8.64. 1,081,340 shares of the stock were exchanged, compared to its average volume of 549,325. CryoPort, Inc. has a 52-week low of $4.58 and a 52-week high of $10.46. The firm's fifty day moving average price is $8.23 and its 200 day moving average price is $6.92. The company has a current ratio of 16.24, a quick ratio of 15.47 and a debt-to-equity ratio of 0.39. The company has a market cap of $432.60 million, a P/E ratio of 6.50 and a beta of 1.62.

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

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.