Granahan Investment Management LLC Buys 190,938 Shares of CryoPort, Inc. $CYRX

Granahan Investment Management LLC raised its stake in CryoPort, Inc. (NASDAQ:CYRX) by 475.0% during the first quarter, HoldingsChannel reports. The fund owned 231,138 shares of the company’s stock after buying an additional 190,938 shares during the period. Granahan Investment Management LLC’s holdings in CryoPort were worth $1,914,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CYRX. AQR Capital Management LLC boosted its stake in CryoPort by 285.5% in the 1st quarter. AQR Capital Management LLC now owns 262,596 shares of the company’s stock worth $1,597,000 after purchasing an additional 194,482 shares in the last quarter. Creative Planning bought a new stake in CryoPort during the 2nd quarter valued at about $96,000. Rhumbline Advisers raised its holdings in CryoPort by 17.6% in the second quarter. Rhumbline Advisers now owns 92,098 shares of the company’s stock worth $687,000 after buying an additional 13,778 shares during the last quarter. American Century Companies Inc. raised its holdings in CryoPort by 24.4% in the second quarter. American Century Companies Inc. now owns 88,876 shares of the company’s stock worth $663,000 after buying an additional 17,459 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of CryoPort in the second quarter worth approximately $254,000. 92.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Ramkumar Mandalam sold 23,214 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $15.44, for a total value of $358,424.16. Following the transaction, the director directly owned 67,894 shares in the company, valued at $1,048,283.36. This trade represents a 25.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Edward J. Zecchini sold 33,600 shares of CryoPort stock in a transaction 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 directly owned 109,719 shares of the company’s stock, valued at $1,587,633.93. The trade was a 23.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 227,641 shares of company stock valued at $3,622,515 in the last ninety days. 9.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CYRX. Weiss Ratings upgraded shares of CryoPort from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Guggenheim upped their price objective on CryoPort from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Wall Street Zen raised CryoPort from a “sell” rating to a “hold” rating in a research report on Monday, May 11th. BTIG Research increased their target price on CryoPort from $17.00 to $25.00 and gave the company a “buy” rating in a research note on Friday. Finally, Needham & Company LLC lifted their target price on CryoPort from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.38.

CryoPort Stock Down 4.1%

CYRX opened at $15.37 on Friday. The stock has a market capitalization of $774.65 million, a price-to-earnings ratio of 11.39 and a beta of 1.88. The firm has a 50 day moving average price of $15.29 and a 200-day moving average price of $11.60. CryoPort, Inc. has a twelve month low of $6.69 and a twelve month high of $16.89.

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