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

Fred Alger Management LLC lessened its position in CryoPort, Inc. (NASDAQ:CYRX) by 24.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,780,495 shares of the company’s stock after selling 578,445 shares during the period. Fred Alger Management LLC’s holdings in CryoPort were worth $16,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in shares of CryoPort by 300.1% in the second quarter. Tower Research Capital LLC TRC now owns 5,833 shares of the company’s stock valued at $44,000 after purchasing an additional 4,375 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of CryoPort during the 3rd quarter worth about $53,000. ProShare Advisors LLC bought a new stake in CryoPort during the 2nd quarter valued at approximately $75,000. AlphaQuest LLC bought a new stake in CryoPort during the 3rd quarter valued at approximately $79,000. Finally, PharVision Advisers LLC acquired a new stake in CryoPort in the 2nd quarter valued at approximately $82,000. 92.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at CryoPort

In other news, CFO Robert Stefanovich sold 38,700 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $7.76, for a total value of $300,312.00. Following the sale, the chief financial officer owned 255,701 shares in the company, valued at approximately $1,984,239.76. The trade was a 13.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.10% of the company’s stock.

CryoPort Trading Up 2.3%

Shares of CYRX opened at $8.00 on Tuesday. The stock has a market cap of $398.88 million, a PE ratio of 6.06 and a beta of 1.69. CryoPort, Inc. has a 1 year low of $4.63 and a 1 year high of $11.45. The stock has a 50 day simple moving average of $9.23 and a 200-day simple moving average of $9.36.

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

About CryoPort

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.