Balyasny Asset Management L.P. Acquires 14,438 Shares of Cryoport, Inc. (NASDAQ:CYRX)

Balyasny Asset Management L.P. increased its holdings in Cryoport, Inc. (NASDAQ:CYRX) by 88.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,737 shares of the company’s stock after buying an additional 14,438 shares during the period. Balyasny Asset Management L.P.’s holdings in Cryoport were worth $239,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in Cryoport by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 850,216 shares of the company’s stock worth $6,615,000 after buying an additional 63,301 shares during the period. LPL Financial LLC boosted its holdings in Cryoport by 1,366.1% in the 4th quarter. LPL Financial LLC now owns 436,766 shares of the company’s stock valued at $3,398,000 after purchasing an additional 406,976 shares during the period. Franklin Resources Inc. boosted its holdings in Cryoport by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 387,131 shares of the company’s stock valued at $3,012,000 after purchasing an additional 1,512 shares during the period. Norges Bank bought a new position in Cryoport in the 4th quarter valued at $2,711,000. Finally, JPMorgan Chase & Co. boosted its holdings in Cryoport by 10.8% in the 4th quarter. JPMorgan Chase & Co. now owns 338,315 shares of the company’s stock valued at $2,632,000 after purchasing an additional 33,078 shares during the period. 92.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cryoport news, CEO Jerrell Shelton sold 4,620 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.29, for a total value of $29,059.80. Following the transaction, the chief executive officer now owns 765,399 shares in the company, valued at approximately $4,814,359.71. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 19,830 shares of company stock worth $118,353 in the last 90 days. 10.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

CYRX has been the subject of several analyst reports. Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of Cryoport in a report on Wednesday, April 16th. UBS Group raised their price target on shares of Cryoport from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Morgan Stanley lowered their price objective on shares of Cryoport from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Cryoport in a research report on Thursday, May 8th. Finally, Roth Mkm restated a “buy” rating and set a $15.00 price objective on shares of Cryoport in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Cryoport Price Performance

Shares of NASDAQ:CYRX opened at $6.68 on Friday. The stock has a market cap of $334.92 million, a PE ratio of -1.98 and a beta of 1.92. The company’s fifty day moving average is $5.95 and its 200 day moving average is $6.86. Cryoport, Inc. has a 52 week low of $4.58 and a 52 week high of $12.58. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48.

Cryoport (NASDAQ:CYRX) last issued its earnings results on Wednesday, May 7th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $41.04 million for the quarter, compared to analysts’ expectations of $56.19 million. Cryoport had a negative net margin of 70.08% and a negative return on equity of 13.35%. Research analysts anticipate that Cryoport, Inc. will post -0.99 earnings per share for the current year.

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.