Fred Alger Management LLC Sells 34,575 Shares of CryoPort, Inc. $CYRX

Fred Alger Management LLC lessened its stake in shares of CryoPort, Inc. (NASDAQ:CYRX) by 1.3% during the 1st quarter, Holdings Channel reports. The fund owned 2,532,362 shares of the company’s stock after selling 34,575 shares during the period. Fred Alger Management LLC owned about 0.05% of CryoPort worth $15,397,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. boosted its position in CryoPort by 148.7% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,546 shares of the company’s stock valued at $28,000 after acquiring an additional 2,120 shares in the last quarter. Sierra Summit Advisors LLC boosted its position in CryoPort by 5.0% during the 1st quarter. Sierra Summit Advisors LLC now owns 45,060 shares of the company’s stock valued at $274,000 after acquiring an additional 2,150 shares in the last quarter. MetLife Investment Management LLC boosted its position in CryoPort by 13.8% during the 1st quarter. MetLife Investment Management LLC now owns 24,641 shares of the company’s stock valued at $150,000 after acquiring an additional 2,980 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in CryoPort by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 60,003 shares of the company’s stock valued at $467,000 after acquiring an additional 4,902 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in CryoPort by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 370,302 shares of the company’s stock valued at $2,251,000 after acquiring an additional 5,207 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

Analyst Ratings Changes

CYRX has been the topic of several recent research reports. BTIG Research dropped their target price on CryoPort from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, July 7th. Leerink Partners upgraded CryoPort from a “market perform” rating to an “outperform” rating and set a $16.00 target price on the stock in a research note on Wednesday, August 6th. KeyCorp upgraded CryoPort from a “sector weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research note on Wednesday, August 6th. Leerink Partnrs upgraded CryoPort from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 6th. Finally, Stephens assumed coverage on CryoPort in a research note on Tuesday, July 22nd. They set an “overweight” rating and a $13.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $12.00.

CryoPort Stock Performance

Shares of CYRX opened at $10.04 on Tuesday. The stock has a 50-day moving average of $8.08 and a two-hundred day moving average of $6.82. CryoPort, Inc. has a one year low of $4.58 and a one year high of $10.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 15.47 and a current ratio of 16.24. The stock has a market cap of $502.70 million, a P/E ratio of 7.55 and a beta of 1.62.

CryoPort (NASDAQ:CYRX) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.09). CryoPort had a negative return on equity of 9.79% and a net margin of 37.21%.The firm had revenue of $45.45 million for the quarter, compared to analyst estimates of $41.74 million. CryoPort has set its FY 2025 guidance at EPS. As a group, research analysts predict that CryoPort, Inc. will post -0.99 EPS for the current year.

Insider Transactions at CryoPort

In other CryoPort news, CEO Jerrell Shelton sold 16,344 shares of CryoPort stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $7.06, for a total transaction of $115,388.64. Following the completion of the sale, the chief executive officer owned 912,419 shares of the company’s stock, valued at approximately $6,441,678.14. The trade was a 1.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ramkumar Mandalam sold 40,728 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $7.24, for a total value of $294,870.72. Following the completion of the transaction, the director directly owned 92,328 shares of the company’s stock, valued at approximately $668,454.72. This trade represents a 30.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 435,125 shares of company stock worth $2,992,628. 10.10% of the stock is owned by insiders.

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.