SG Americas Securities LLC Cuts Stock Holdings in CryoPort, Inc. $CYRX

Key Points

• SG Americas Securities sharply reduced its CryoPort stake by 87.2% in the first quarter, leaving it with 15,252 shares worth about $126,000.
• Several analysts remain positive on CryoPort, with recent price-target increases from firms like Needham, Craig Hallum, and BTIG; the stock has a consensus rating of Moderate Buy and an average target of $15.11.
• Insiders have also been selling shares, including CFO Robert Stefanovich and insider Edward J. Zecchini, while CryoPort’s latest quarter showed a smaller-than-expected EPS loss but revenue above estimates.

SG Americas Securities LLC reduced its stake in CryoPort, Inc. (NASDAQ:CYRX - Free Report) by 87.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,252 shares of the company's stock after selling 103,471 shares during the period. SG Americas Securities LLC's holdings in CryoPort were worth $126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CYRX. Corient Private Wealth LLC purchased a new stake in CryoPort during the 4th quarter worth about $113,000. Invesco Ltd. boosted its stake in shares of CryoPort by 19.3% in the 4th quarter. Invesco Ltd. now owns 96,541 shares of the company's stock valued at $927,000 after buying an additional 15,607 shares during the period. XTX Topco Ltd acquired a new position in shares of CryoPort during the fourth quarter worth about $424,000. Tudor Investment Corp ET AL grew its position in shares of CryoPort by 3.3% during the fourth quarter. Tudor Investment Corp ET AL now owns 300,414 shares of the company's stock worth $2,884,000 after buying an additional 9,690 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of CryoPort during the fourth quarter worth approximately $97,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of CryoPort from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. Needham & Company LLC increased their price objective on shares of CryoPort from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Craig Hallum raised their price objective on shares of CryoPort from $15.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, June 3rd. BTIG Research lifted their price objective on shares of CryoPort from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of CryoPort from a "sell" rating to a "hold" rating in a research note on Monday, May 11th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $15.11.

Insider Buying and Selling

In related news, CFO Robert Stefanovich sold 169,427 shares of the business's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $16.27, for a total value of $2,756,577.29. Following the completion of the sale, the chief financial officer directly owned 109,850 shares of the company's stock, valued at $1,787,259.50. The trade was a 60.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zecchini sold 33,600 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $14.47, for a total value of $486,192.00. Following the transaction, the insider directly owned 109,719 shares in the company, valued at approximately $1,587,633.93. The trade was a 23.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 227,641 shares of company stock worth $3,622,515 in the last ninety days. 9.50% of the stock is owned by corporate insiders.

CryoPort Price Performance

CYRX stock opened at $16.17 on Monday. The business has a 50 day moving average price of $14.61 and a 200 day moving average price of $11.16. The stock has a market cap of $814.97 million, a price-to-earnings ratio of 11.98 and a beta of 1.88. CryoPort, Inc. has a fifty-two week low of $6.69 and a fifty-two week high of $16.73.

CryoPort (NASDAQ:CYRX - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.03). The company had revenue of $47.80 million during the quarter, compared to analysts' expectations of $44.86 million. CryoPort had a net margin of 41.57% and a negative return on equity of 7.92%. As a group, sell-side analysts anticipate that CryoPort, Inc. will post -0.85 EPS for the current year.

CryoPort Company Profile

CryoPort, Inc NASDAQ: CYRX is a global provider of temperature-controlled logistics solutions for the life sciences industry. The company specializes in cryogenic shipping for critical biological materials, supporting the development, clinical testing and commercialization of cell and gene therapies, biologics, vaccines and reproductive medicine. By offering end-to-end supply chain management, CryoPort helps ensure the integrity and viability of temperature-sensitive products from point of origin to destination.

CryoPort's product portfolio includes proprietary cryogenic dry shippers, advanced active and passive thermal packaging, and real-time data monitoring platforms.

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