CryoPort, Inc. $CYRX Stock Position Decreased by Millennium Management LLC

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 lowered its position in shares of CryoPort, Inc. (NASDAQ:CYRX - Free Report) by 18.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,361,813 shares of the company's stock after selling 778,056 shares during the quarter. Millennium Management LLC owned about 6.71% of CryoPort worth $20,440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG raised its stake in CryoPort by 0.9% during the fourth 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 in the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of CryoPort by 77.0% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 742,914 shares of the company's stock worth $5,780,000 after purchasing an additional 323,216 shares during the period. Readystate Asset Management LP raised its position in shares of CryoPort by 91.6% during the 1st quarter. Readystate Asset Management LP now owns 500,344 shares of the company's stock worth $3,042,000 after purchasing an additional 239,153 shares during the period. D. E. Shaw & Co. Inc. raised its position 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 worth $3,177,000 after purchasing an additional 68,474 shares during the period. Finally, Trexquant Investment LP raised its position in shares of CryoPort by 57.7% during the 1st quarter. Trexquant Investment LP now owns 377,127 shares of the company's stock worth $2,293,000 after purchasing an additional 137,989 shares during the period. Institutional investors and hedge funds own 92.90% of the company's stock.

CryoPort Stock Performance

CYRX traded up $1.18 during trading hours on Thursday, hitting $10.05. The company's stock had a trading volume of 1,024,087 shares, compared to its average volume of 571,540. The company has a 50-day simple moving average of $8.37 and a 200 day simple moving average of $7.00. 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 firm has a market capitalization of $503.20 million, a PE ratio of 7.56 and a beta of 1.62. CryoPort, Inc. has a fifty-two week low of $4.58 and a fifty-two week high of $10.46.

CryoPort (NASDAQ:CYRX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.09). The firm 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, sell-side analysts expect that CryoPort, Inc. will post -0.99 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on CYRX shares. Stephens started coverage on CryoPort in a research report on Tuesday, July 22nd. They set an "overweight" rating and a $13.00 price target on the stock. KeyCorp upgraded 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 upgraded CryoPort from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. BTIG Research increased their price target on CryoPort from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Leerink Partners upgraded CryoPort from a "market perform" rating to an "outperform" rating and set a $16.00 price target on the stock in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, CryoPort presently has an average rating of "Buy" and a consensus price target of $12.56.

Insider Transactions at CryoPort

In other CryoPort news, Director Robert J. Hariri sold 25,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $9.71, for a total transaction of $242,750.00. Following the completion of the transaction, the director directly owned 51,275 shares of the company's stock, valued at approximately $497,880.25. This trade represents a 32.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ramkumar Mandalam sold 40,728 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $7.24, for a total value of $294,870.72. Following the transaction, the director directly owned 92,328 shares of the company's stock, valued at approximately $668,454.72. The trade was a 30.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,828 shares of company stock valued at $1,317,324. Company insiders own 10.00% of the company's stock.

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.