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

Granahan Investment Management LLC raised its position in CryoPort, Inc. (NASDAQ:CYRX) by 475.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 231,138 shares of the company’s stock after acquiring an additional 190,938 shares during the quarter. Granahan Investment Management LLC owned approximately 0.46% of CryoPort worth $1,914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Basepoint Wealth LLC purchased a new stake in shares of CryoPort during the fourth quarter worth about $34,000. Tower Research Capital LLC TRC increased its holdings in 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 purchasing an additional 4,375 shares during the period. Creative Planning bought a new position in CryoPort during the 2nd quarter valued at approximately $96,000. Quadrature Capital Ltd bought a new position in CryoPort during the 4th quarter valued at approximately $97,000. Finally, State of Wyoming lifted its holdings in CryoPort by 30.2% in the 2nd quarter. State of Wyoming now owns 14,218 shares of the company’s stock worth $106,000 after buying an additional 3,301 shares during the period. 92.90% of the stock is owned by institutional investors.

CryoPort Stock Performance

Shares of NASDAQ:CYRX opened at $15.37 on Friday. The firm has a market capitalization of $774.65 million, a P/E ratio of 11.39 and a beta of 1.88. The stock has a 50 day moving average price of $15.29 and a 200-day moving average price of $11.60. CryoPort, Inc. has a 52-week low of $6.69 and a 52-week high of $16.89.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.03). The firm had revenue of $47.80 million for the quarter, compared to the consensus estimate of $44.86 million. CryoPort had a net margin of 41.57% and a negative return on equity of 7.92%. On average, equities analysts forecast that CryoPort, Inc. will post -0.85 EPS for the current fiscal year.

Insider Buying and Selling at CryoPort

In related news, Director Ramkumar Mandalam sold 23,214 shares of CryoPort stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $15.44, for a total transaction of $358,424.16. Following the completion of the transaction, the director directly owned 67,894 shares of the company’s stock, valued at $1,048,283.36. This trade represents a 25.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Edward J. Zecchini sold 33,600 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $14.47, for a total transaction of $486,192.00. Following the sale, the insider directly owned 109,719 shares in the company, 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. Over the last 90 days, insiders sold 227,641 shares of company stock valued at $3,622,515. 9.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on CryoPort from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Craig Hallum raised their price target on CryoPort from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. KeyCorp lifted their price target on shares of CryoPort from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. BTIG Research boosted their price objective on shares of CryoPort from $17.00 to $25.00 and gave the company a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group set a $13.50 price objective on shares of CryoPort in a report on Monday, June 8th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.38.

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.