An anecdote for your reading pleasure:
I invest in all types of assets/classes. I particularly like investing in emerging hedge fund managers because they tend to keep their addressed markets small and really have their fingers on their respective market's pulse (relative to larger generalist funds, etc. This is a discussion for another time). The number of healthcare/biotech-focused managers that are up this month is quite literally zero. Moreover, they're down significantly. The mean of the seven funds I receive performance updates and commentary on? -21.92% for October alone.
So, what are they doing? Sure, their benchmarks are down as well; but after all, most prudent investors will write off managers that take this much volatility in a single month as either unable to mark their books properly (which isn't the case here as these are rather liquid securities), or just simply a dogs**t risk manager. The answer? Most of them are on an absolute mad dash to raise as much capital on the back of this selloff as possible. I've gotten more premature (by a week, I might add. These typically come out well into the following month) month-end letters advising me of new fundraising activity specifically to take advantage of what's on sale right now.
Why does this matter?
Forget Cryoport for a second. If you're even remotely bullish on the space and you're not buying here, I don't know what you're doing. They could be totally wrong and trying to catch the sharpest of falling knives. Conversely, if they're right, you'll see a bullish squeeze of great proportions in the near future.
Like I said, this wasn't so much about Cryoport as it was about the entire biotech/biopharma market. But the correlations between the two exist and are not insignificant.
