Readystate Asset Management LP Has $1.90 Million Holdings in CryoPort, Inc. $CYRX

Readystate Asset Management LP cut its holdings in CryoPort, Inc. (NASDAQ:CYRX) by 20.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,822 shares of the company’s stock after selling 58,851 shares during the period. Readystate Asset Management LP’s holdings in CryoPort were worth $1,895,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Basepoint Wealth LLC bought a new position in CryoPort during the fourth quarter valued at about $34,000. Tower Research Capital LLC TRC boosted its stake in shares of CryoPort by 300.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company’s stock worth $44,000 after acquiring an additional 4,375 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of CryoPort during the 4th quarter valued at about $97,000. Corient Private Wealth LLC acquired a new position in shares of CryoPort during the 4th quarter valued at about $113,000. Finally, BNP Paribas Financial Markets raised its stake in shares of CryoPort by 55.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,880 shares of the company’s stock valued at $113,000 after acquiring an additional 4,225 shares in the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

CryoPort Price Performance

NASDAQ CYRX opened at $15.17 on Wednesday. The company’s fifty day moving average is $15.37 and its two-hundred day moving average is $11.68. CryoPort, Inc. has a 52-week low of $6.69 and a 52-week high of $16.89. The firm has a market capitalization of $764.57 million, a price-to-earnings ratio of 11.24 and a beta of 1.88.

CryoPort (NASDAQ:CYRX) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.03). CryoPort had a net margin of 41.57% and a negative return on equity of 7.92%. The company had revenue of $47.80 million for the quarter, compared to analyst estimates of $44.86 million. As a group, sell-side analysts expect that CryoPort, Inc. will post -0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Needham & Company LLC upped their target price on CryoPort from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Craig Hallum lifted their price target on shares of CryoPort from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Jefferies Financial Group set a $13.50 price objective on shares of CryoPort in a research note on Monday, June 8th. Guggenheim upped their price objective on shares of CryoPort from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, KeyCorp raised their target price on shares of CryoPort from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

Insider Buying and Selling

In other CryoPort news, CFO Robert Stefanovich sold 169,427 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $16.27, for a total value of $2,756,577.29. Following the completion of the sale, the chief financial officer owned 109,850 shares in the company, valued at approximately $1,787,259.50. This trade represents a 60.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zecchini sold 33,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was 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 $1,587,633.93. This represents a 23.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 227,641 shares of company stock valued at $3,622,515 over the last three months. 9.50% of the stock is owned by corporate 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.