Fred Alger Management LLC Decreases Position in Cryoport, Inc. (NASDAQ:CYRX)

Fred Alger Management LLC reduced its position in shares of Cryoport, Inc. (NASDAQ:CYRX) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,566,937 shares of the company’s stock after selling 131,831 shares during the quarter. Fred Alger Management LLC owned 5.19% of Cryoport worth $19,971,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its position in Cryoport by 272.9% during the third quarter. Barclays PLC now owns 81,417 shares of the company’s stock valued at $660,000 after acquiring an additional 59,582 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Cryoport by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 385,619 shares of the company’s stock valued at $3,127,000 after acquiring an additional 20,077 shares during the period. JPMorgan Chase & Co. increased its stake in Cryoport by 1,464.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 305,237 shares of the company’s stock worth $2,475,000 after buying an additional 285,726 shares in the last quarter. Avanza Fonder AB purchased a new position in Cryoport in the 4th quarter worth approximately $64,000. Finally, SG Americas Securities LLC raised its position in shares of Cryoport by 44.8% during the 4th quarter. SG Americas Securities LLC now owns 146,789 shares of the company’s stock valued at $1,142,000 after buying an additional 45,430 shares during the period. Institutional investors own 92.90% of the company’s stock.

Cryoport Price Performance

NASDAQ CYRX opened at $6.99 on Friday. The stock has a market cap of $350.21 million, a price-to-earnings ratio of -2.07 and a beta of 1.92. The business has a 50 day simple moving average of $5.84 and a 200 day simple moving average of $6.86. 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 quick ratio of 5.32 and a current ratio of 5.70.

Cryoport (NASDAQ:CYRX) last posted its earnings results on Wednesday, May 7th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. The business had revenue of $41.04 million for the quarter, compared to analyst estimates of $56.19 million. Analysts anticipate that Cryoport, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at Cryoport

In related news, CEO Jerrell Shelton sold 4,620 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.29, for a total transaction of $29,059.80. Following the completion of the transaction, the chief executive officer now owns 765,399 shares in the company, valued at approximately $4,814,359.71. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 19,830 shares of company stock valued at $118,353. Corporate insiders own 10.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CYRX. UBS Group increased their price objective on Cryoport from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Morgan Stanley reduced their price objective on Cryoport from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday. Roth Mkm restated a “buy” rating and issued a $15.00 target price on shares of Cryoport in a report on Tuesday, April 1st. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Cryoport in a research note on Thursday. Finally, Guggenheim restated a “buy” rating and issued a $10.00 price target on shares of Cryoport in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

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.