Wellington Management Group LLP Acquires New Shares in CryoPort, Inc. $CYRX

Key Points

• Wellington Management acquired 534,930 CryoPort shares worth approximately $8.4 million, representing about 1.06% of the company. Institutional investors collectively own 92.9% of CYRX.
• Analyst sentiment is largely positive, with seven Buy ratings, one Hold and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $18.
• CryoPort reported quarterly revenue of $48.97 million but posted an EPS loss of $0.20, slightly missing expectations. The stock recently opened at $15.47, while insiders—including the CEO—sold shares under reported transactions.

Wellington Management Group LLP bought a new stake in CryoPort, Inc. (NASDAQ:CYRX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 534,930 shares of the company's stock, valued at approximately $8,398,000. Wellington Management Group LLP owned about 1.06% of CryoPort as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CYRX. AQR Capital Management LLC grew its holdings in CryoPort by 285.5% during the 1st quarter. AQR Capital Management LLC now owns 262,596 shares of the company's stock valued at $1,597,000 after buying an additional 194,482 shares during the last quarter. Creative Planning purchased a new stake in shares of CryoPort in the second quarter valued at $96,000. Rhumbline Advisers boosted its stake in shares of CryoPort by 17.6% during the second quarter. Rhumbline Advisers now owns 92,098 shares of the company's stock valued at $687,000 after acquiring an additional 13,778 shares during the last quarter. American Century Companies Inc. increased its position in CryoPort by 24.4% during the 2nd quarter. American Century Companies Inc. now owns 88,876 shares of the company's stock worth $663,000 after purchasing an additional 17,459 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in CryoPort during the 2nd quarter worth about $254,000. Institutional investors and hedge funds own 92.90% of the company's stock.

Wall Street Analysts Forecast Growth

CYRX has been the subject of a number of recent research reports. KeyCorp lifted their price target on shares of CryoPort from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Wednesday, May 20th. BTIG Research raised their target price on shares of CryoPort from $17.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Weiss Ratings cut shares of CryoPort from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, August 17th. Craig Hallum boosted their price target on CryoPort from $15.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, June 3rd. Finally, Roth Capital reissued a "buy" rating and set a $21.00 price target on shares of CryoPort in a research note on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

CryoPort Stock Down 2.2%

CryoPort stock opened at $15.47 on Wednesday. The firm has a fifty day moving average of $15.70 and a 200-day moving average of $12.93. CryoPort, Inc. has a 52-week low of $7.61 and a 52-week high of $17.20. The firm has a market capitalization of $783.56 million, a P/E ratio of -17.19 and a beta of 1.89.

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

Insiders Place Their Bets

In other news, insider Edward Zecchini sold 33,600 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $14.47, for a total value of $486,192.00. Following the completion of the sale, the insider owned 109,719 shares of the company's stock, valued at approximately $1,587,633.93. The trade was a 23.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jerrell Shelton sold 28,800 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $14.91, for a total value of $429,408.00. Following the sale, the chief executive officer owned 1,201,814 shares in the company, valued at $17,919,046.74. The trade was a 2.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.50% of the stock is currently owned by insiders.

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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