Millennium Management LLC Has $32.21 Million Stake in Cryoport, Inc. (NASDAQ:CYRX)

Millennium Management LLC raised its stake in Cryoport, Inc. (NASDAQ:CYRX) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,139,869 shares of the company’s stock after acquiring an additional 409,353 shares during the quarter. Millennium Management LLC owned approximately 0.08% of Cryoport worth $32,208,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CYRX. Lazard Asset Management LLC acquired a new position in Cryoport during the 4th quarter worth approximately $51,000. Avanza Fonder AB acquired a new stake in Cryoport in the fourth quarter valued at approximately $64,000. Quarry LP bought a new stake in shares of Cryoport during the fourth quarter worth $69,000. Nebula Research & Development LLC increased its holdings in shares of Cryoport by 21.6% during the fourth quarter. Nebula Research & Development LLC now owns 12,442 shares of the company’s stock worth $97,000 after buying an additional 2,207 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Cryoport by 135.5% during the fourth quarter. Russell Investments Group Ltd. now owns 12,875 shares of the company’s stock worth $100,000 after buying an additional 7,407 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CYRX shares. Roth Mkm reissued a “buy” rating and set a $15.00 price objective on shares of Cryoport in a report on Tuesday, April 1st. Morgan Stanley dropped their target price on Cryoport from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. Guggenheim restated a “buy” rating and set a $10.00 price target on shares of Cryoport in a report on Wednesday, April 16th. UBS Group upped their price objective on Cryoport from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Cryoport in a report on Thursday, May 8th. Two 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 currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Cryoport Stock Down 0.7%

Shares of NASDAQ:CYRX opened at $6.68 on Monday. The firm has a market cap of $334.92 million, a P/E ratio of -1.98 and a beta of 1.92. Cryoport, Inc. has a 12-month low of $4.58 and a 12-month high of $12.58. The business has a fifty day simple moving average of $5.95 and a 200 day simple moving average of $6.86. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48.

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

Insider Buying and Selling at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 4,620 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $6.29, for a total transaction of $29,059.80. Following the sale, the chief executive officer now owns 765,399 shares of the company’s stock, valued at approximately $4,814,359.71. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 19,830 shares of company stock valued at $118,353. 10.00% of the stock is currently owned by company 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.