Millennium Management LLC Sells 778,056 Shares of CryoPort, Inc. $CYRX

Key Points

• Millennium Management LLC reduced its stake in CryoPort, Inc. by 18.8%, selling 778,056 shares, and now holds 3,361,813 shares valued at approximately $20.44 million.
• Despite Millennium's reduction, several institutional investors increased their positions in CryoPort, with Jacobs Levy Equity Management growing its holdings by 54% during the same period.
• CryoPort's stock is currently trading at $8.64, down 8.8%, and has missed earnings estimates, reporting a net margin of 37.21% and a negative return on equity of 9.79% for the last quarter.

Millennium Management LLC reduced its position in CryoPort, Inc. (NASDAQ:CYRX - Free Report) by 18.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,361,813 shares of the company's stock after selling 778,056 shares during the period. Millennium Management LLC owned 6.71% of CryoPort worth $20,440,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CYRX. Jacobs Levy Equity Management Inc. grew its holdings in CryoPort by 54.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 113,235 shares of the company's stock valued at $688,000 after buying an additional 39,698 shares in the last quarter. Banque Transatlantique SA bought a new position in shares of CryoPort in the first quarter worth approximately $369,000. AQR Capital Management LLC increased its position in shares of CryoPort by 285.5% in the first quarter. AQR Capital Management LLC now owns 262,596 shares of the company's stock worth $1,597,000 after purchasing an additional 194,482 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in CryoPort by 109.6% during the first quarter. Cubist Systematic Strategies LLC now owns 226,457 shares of the company's stock valued at $1,377,000 after acquiring an additional 118,420 shares during the last quarter. Finally, Trexquant Investment LP grew its position in CryoPort by 57.7% during the first quarter. Trexquant Investment LP now owns 377,127 shares of the company's stock valued at $2,293,000 after acquiring an additional 137,989 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Robert Stefanovich sold 9,300 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $8.67, for a total transaction of $80,631.00. Following the sale, the chief financial officer directly owned 207,213 shares of the company's stock, valued at $1,796,536.71. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jerrell Shelton sold 16,344 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $7.06, for a total value of $115,388.64. Following the sale, the chief executive officer owned 912,419 shares of the company's stock, valued at approximately $6,441,678.14. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 449,413 shares of company stock valued at $3,160,008. 10.00% of the stock is currently owned by corporate insiders.

CryoPort Trading Down 8.8%

CryoPort stock opened at $8.64 on Friday. 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 one year low of $4.58 and a one year high of $10.46. The stock has a market capitalization of $432.60 million, a PE ratio of 6.50 and a beta of 1.62. The business's fifty day moving average is $8.23 and its 200 day moving average is $6.90.

CryoPort (NASDAQ:CYRX - Get Free Report) last released 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 net margin of 37.21% and a negative return on equity of 9.79%. The business 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. On average, sell-side analysts predict that CryoPort, Inc. will post -0.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CYRX. KeyCorp upgraded 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 report on Wednesday, August 6th. Leerink Partnrs raised CryoPort from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. BTIG Research dropped their price objective 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 set an "overweight" rating and a $13.00 price objective for the company. Finally, Leerink Partners raised 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. 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. Based on data from MarketBeat, CryoPort currently has an average rating of "Buy" and a consensus price target of $12.00.

CryoPort Profile

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.

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