Squarepoint Ops LLC Purchases 321,497 Shares of CryoPort, Inc. $CYRX

Key Points

• Squarepoint Ops LLC increased its CryoPort stake by 685.1% in the second quarter, adding 321,497 shares to own 368,424 shares valued at approximately $5.8 million. Institutional investors collectively own 92.9% of CYRX.
• Analysts remain broadly optimistic, with seven Buy ratings, one Hold and one Sell; CryoPort has a consensus “Moderate Buy” rating and an average price target of $18.00.
• CryoPort reported quarterly revenue of $48.97 million, exceeding expectations, but its adjusted loss of $0.20 per share missed estimates. CEO Jerrell Shelton separately sold 28,800 shares under a pre-arranged trading plan.

Squarepoint Ops LLC boosted its holdings in shares of CryoPort, Inc. (NASDAQ:CYRX - Free Report) by 685.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 368,424 shares of the company's stock after buying an additional 321,497 shares during the quarter. Squarepoint Ops LLC owned approximately 0.73% of CryoPort worth $5,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CYRX. Basepoint Wealth LLC bought a new position in CryoPort during the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC grew its holdings in shares of CryoPort by 300.1% in the second quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company's stock worth $44,000 after purchasing an additional 4,375 shares during the last quarter. Quadrature Capital Ltd bought a new position in CryoPort in the fourth quarter worth approximately $97,000. California State Teachers Retirement System grew its position in shares of CryoPort by 305.0% during the 2nd quarter. California State Teachers Retirement System now owns 10,707 shares of the company's stock worth $168,000 after buying an additional 8,063 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new position in CryoPort during the 4th quarter valued at about $113,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CYRX. Jefferies Financial Group set a $13.50 price target on CryoPort in a report on Monday, June 8th. Craig Hallum upped their target price on CryoPort from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. Weiss Ratings lowered CryoPort from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, August 17th. Roth Capital reaffirmed a "buy" rating and set a $21.00 target price on shares of CryoPort in a report on Friday, August 7th. Finally, BTIG Research upped their price target on CryoPort from $17.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, CryoPort currently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Insider Transactions at CryoPort

In other CryoPort news, CEO Jerrell Shelton sold 28,800 shares of CryoPort stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total value of $429,408.00. Following the completion of the transaction, the chief executive officer directly owned 1,201,814 shares of the company's stock, valued at $17,919,046.74. The trade was a 2.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is currently owned by insiders.

CryoPort Price Performance

CYRX opened at $15.55 on Friday. CryoPort, Inc. has a 1-year low of $7.61 and a 1-year high of $17.20. The firm has a market capitalization of $787.61 million, a price-to-earnings ratio of -17.28 and a beta of 1.89. The company's 50 day simple moving average is $15.68 and its two-hundred day simple moving average is $13.04.

CryoPort (NASDAQ:CYRX - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $48.97 million during the quarter, compared to analysts' expectations of $48.18 million. CryoPort had a negative net margin of 20.05% and a negative return on equity of 7.20%. On average, equities analysts anticipate that CryoPort, Inc. will post -0.83 earnings per share for the current fiscal year.

CryoPort 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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