Cadian Capital Management LP Buys 1,155,476 Shares of MaxCyte, Inc. (NASDAQ:MXCT)

Cadian Capital Management LP boosted its position in shares of MaxCyte, Inc. (NASDAQ:MXCT - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,344,424 shares of the company's stock after purchasing an additional 1,155,476 shares during the period. MaxCyte accounts for approximately 2.2% of Cadian Capital Management LP's portfolio, making the stock its 15th biggest position. Cadian Capital Management LP owned about 8.83% of MaxCyte worth $38,873,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC increased its position in MaxCyte by 329.3% during the third quarter. Barclays PLC now owns 165,765 shares of the company's stock worth $645,000 after buying an additional 127,156 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of MaxCyte by 47.9% during the 4th quarter. Renaissance Technologies LLC now owns 281,200 shares of the company's stock valued at $1,170,000 after acquiring an additional 91,100 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of MaxCyte in the 4th quarter valued at approximately $1,098,000. Gagnon Securities LLC lifted its holdings in MaxCyte by 234.1% in the 4th quarter. Gagnon Securities LLC now owns 197,326 shares of the company's stock worth $821,000 after purchasing an additional 138,257 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in MaxCyte during the fourth quarter worth approximately $185,000. Institutional investors and hedge funds own 68.81% of the company's stock.

MaxCyte Stock Performance

Shares of MXCT traded down $0.06 during mid-day trading on Friday, hitting $2.37. The company's stock had a trading volume of 1,936,084 shares, compared to its average volume of 540,657. The stock's 50-day moving average is $2.84 and its two-hundred day moving average is $3.62. The firm has a market capitalization of $251.98 million, a PE ratio of -6.97 and a beta of 1.38. MaxCyte, Inc. has a one year low of $2.21 and a one year high of $5.26.

MaxCyte (NASDAQ:MXCT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). The company had revenue of $10.39 million for the quarter, compared to analyst estimates of $9.05 million. MaxCyte had a negative net margin of 78.36% and a negative return on equity of 16.00%. Analysts expect that MaxCyte, Inc. will post -0.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MXCT. BTIG Research set a $6.00 price objective on shares of MaxCyte and gave the stock a "buy" rating in a research note on Wednesday, March 12th. Stifel Nicolaus cut their target price on shares of MaxCyte from $11.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th.

About MaxCyte

MaxCyte, Inc, a life sciences company, discovers, develops, and commercializes next-generation cell therapies in the United States and internationally. Its products include ExPERT ATx, a static electroporation instrument for small to medium scale transfection; ExPERT STx, a flow electroporation for protein production and drug development, as well as expression of therapeutic targets for cell-based assays; ExPERT GTx, a flow electroporation for large scale transfection in therapeutic applications; and ExPERT VLx for very large volume cell-engineering.