Fred Alger Management LLC Has $16.88 Million Position in CryoPort, Inc. $CYRX

Fred Alger Management LLC cut its stake in shares of CryoPort, Inc. (NASDAQ:CYRX) by 24.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,780,495 shares of the company’s stock after selling 578,445 shares during the period. Fred Alger Management LLC owned about 3.56% of CryoPort worth $16,879,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of CryoPort during the 3rd quarter valued at $53,000. Tower Research Capital LLC TRC grew its holdings 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 valued at $44,000 after acquiring an additional 4,375 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of CryoPort in the third quarter worth $79,000. ProShare Advisors LLC acquired a new position in shares of CryoPort in the second quarter worth $75,000. Finally, PharVision Advisers LLC purchased a new stake in shares of CryoPort during the second quarter worth $82,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

CryoPort Price Performance

NASDAQ CYRX opened at $8.00 on Tuesday. CryoPort, Inc. has a fifty-two week low of $4.63 and a fifty-two week high of $11.45. The stock’s 50-day moving average is $9.23 and its two-hundred day moving average is $9.36. The firm has a market cap of $398.88 million, a P/E ratio of 6.06 and a beta of 1.69.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $45.45 million for the quarter, compared to the consensus estimate of $42.92 million. CryoPort had a negative return on equity of 8.22% and a net margin of 42.35%. On average, equities analysts expect that CryoPort, Inc. will post -0.99 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of CryoPort in a research report on Monday, December 29th. Needham & Company LLC raised their price target on CryoPort from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Wall Street Zen lowered CryoPort from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.94.

Insider Transactions at CryoPort

In other CryoPort news, CFO Robert Stefanovich sold 38,700 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $7.76, for a total transaction of $300,312.00. Following the completion of the sale, the chief financial officer owned 255,701 shares of the company’s stock, valued at $1,984,239.76. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.10% of the stock is owned by insiders.

CryoPort Company 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.