Point72 Asset Management L.P. Makes New $3.41 Million Investment in Cryoport, Inc. (NASDAQ:CYRX)

Point72 Asset Management L.P. bought a new position in shares of Cryoport, Inc. (NASDAQ:CYRX - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 419,900 shares of the company's stock, valued at approximately $3,405,000. Point72 Asset Management L.P. owned approximately 0.85% of Cryoport at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in Cryoport by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company's stock worth $859,000 after purchasing an additional 1,438 shares during the period. Comerica Bank increased its holdings in Cryoport by 73.0% during the 1st quarter. Comerica Bank now owns 3,481 shares of the company's stock worth $62,000 after purchasing an additional 1,469 shares during the period. SG Americas Securities LLC purchased a new stake in Cryoport during the 2nd quarter worth about $185,000. Assenagon Asset Management S.A. increased its holdings in Cryoport by 52.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company's stock worth $10,211,000 after purchasing an additional 511,064 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Cryoport by 13.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 169,155 shares of the company's stock worth $1,169,000 after purchasing an additional 19,803 shares during the period. Institutional investors and hedge funds own 92.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Roth Mkm cut their price target on Cryoport from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, November 8th. UBS Group increased their price objective on Cryoport from $7.00 to $9.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $12.50.

Cryoport Stock Up 13.9 %

Shares of CYRX traded up $1.02 during mid-day trading on Monday, reaching $8.35. The company's stock had a trading volume of 617,605 shares, compared to its average volume of 562,841. The company's 50 day moving average is $7.31 and its 200 day moving average is $8.18. The stock has a market cap of $412.74 million, a PE ratio of -2.36 and a beta of 1.62. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. Cryoport, Inc. has a 12-month low of $5.32 and a 12-month high of $20.10.

Insider Buying and Selling

In related news, CEO Jerrell Shelton sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $6.51, for a total transaction of $325,500.00. Following the transaction, the chief executive officer now owns 731,897 shares in the company, valued at $4,764,649.47. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ramkumar Mandalam sold 7,369 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $7.46, for a total value of $54,972.74. Following the transaction, the director now owns 59,497 shares in the company, valued at $443,847.62. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,869 shares of company stock worth $735,673 in the last quarter. 10.10% of the stock is owned by 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.