Cryoport, Inc. (NASDAQ:CYRX) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC trimmed its stake in Cryoport, Inc. (NASDAQ:CYRX - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,566,937 shares of the company's stock after selling 131,831 shares during the period. Fred Alger Management LLC owned 5.19% of Cryoport worth $19,971,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CYRX. D. E. Shaw & Co. Inc. raised its holdings in Cryoport by 20.1% in the fourth 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 in the last quarter. Deutsche Bank AG lifted its position 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 acquiring an additional 12,864 shares during the last quarter. Cadian Capital Management LP lifted its holdings in shares of Cryoport by 14.1% during the 4th quarter. Cadian Capital Management LP now owns 4,927,027 shares of the company's stock valued at $38,332,000 after purchasing an additional 609,021 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in Cryoport by 88.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 30,737 shares of the company's stock worth $239,000 after buying an additional 14,438 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in shares of Cryoport by 271.8% during the fourth quarter. Tudor Investment Corp ET AL now owns 159,779 shares of the company's stock worth $1,243,000 after acquiring an additional 116,803 shares during the last quarter. 92.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Needham & Company LLC reissued a "buy" rating and set a $11.00 target price on shares of Cryoport in a research report on Thursday, May 8th. Morgan Stanley dropped their price target on Cryoport from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Guggenheim reiterated a "buy" rating and issued a $10.00 price objective on shares of Cryoport in a research note on Wednesday, April 16th. Roth Mkm reissued a "buy" rating and issued a $15.00 price objective on shares of Cryoport in a report on Tuesday, April 1st. Finally, UBS Group raised their target price on Cryoport from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $11.00.

Cryoport Trading Down 7.7%

Shares of CYRX traded down $0.54 during mid-day trading on Wednesday, reaching $6.44. The stock had a trading volume of 174,852 shares, compared to its average volume of 541,080. The business's fifty day moving average is $5.90 and its 200 day moving average is $6.87. Cryoport, Inc. has a 52-week low of $4.58 and a 52-week high of $14.21. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. The firm has a market cap of $322.88 million, a price-to-earnings ratio of -1.91 and a beta of 1.92.

Cryoport (NASDAQ:CYRX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.01. The firm had revenue of $41.04 million for the quarter, compared to analyst estimates of $56.19 million. Cryoport had a negative net margin of 70.08% and a negative return on equity of 13.35%. On average, sell-side analysts predict that Cryoport, Inc. will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jerrell Shelton sold 4,620 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $6.29, for a total value of $29,059.80. Following the completion of the transaction, the chief executive officer now directly owns 765,399 shares of the company's stock, valued at $4,814,359.71. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 19,830 shares of company stock worth $118,353 in the last ninety days. 10.00% of the stock is owned by corporate insiders.

Cryoport Company 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.