1,283,513 MaxCyte, Inc. $MXCT Shares Sold by Brooklands Fund Management Ltd

Key Points

• Brooklands Fund Management cut its MaxCyte stake by 45.1%, selling 1,283,513 shares in the third quarter and retaining 1,564,570 shares, or about 1.52% of the company.
• Institutional ownership remains significant at 68.81%, with several investors initiating positions while Bank of America increased its holdings by 30.1%.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $5.00. MaxCyte shares opened at $1.73, while the company continues to report losses despite narrowly exceeding quarterly EPS expectations.

Brooklands Fund Management Ltd lowered its position in shares of MaxCyte, Inc. (NASDAQ:MXCT - Free Report) by 45.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,564,570 shares of the company's stock after selling 1,283,513 shares during the period. Brooklands Fund Management Ltd owned approximately 1.52% of MaxCyte worth $1,752,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in shares of MaxCyte in the second quarter valued at $44,000. Public Employees Retirement System of Ohio acquired a new position in MaxCyte in the 2nd quarter worth $54,000. Bank of America Corp DE lifted its holdings in MaxCyte by 30.1% in the 1st quarter. Bank of America Corp DE now owns 127,258 shares of the company's stock worth $89,000 after buying an additional 29,457 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in MaxCyte in the 2nd quarter valued at about $99,000. Finally, J. Goldman & Co LP purchased a new position in MaxCyte in the 2nd quarter valued at about $123,000. 68.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings raised MaxCyte from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, October 22nd. BTIG Research reissued a "neutral" rating on shares of MaxCyte in a report on Monday, August 24th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $5.00.

MaxCyte Price Performance

Shares of MXCT stock opened at $1.73 on Friday. The firm has a fifty day moving average of $1.25 and a two-hundred day moving average of $1.07. MaxCyte, Inc. has a 1-year low of $0.64 and a 1-year high of $1.80.

MaxCyte (NASDAQ:MXCT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. MaxCyte had a negative return on equity of 18.92% and a negative net margin of 114.77%. The business had revenue of $6.50 million during the quarter, compared to the consensus estimate of $6.51 million. On average, research analysts forecast that MaxCyte, Inc. will post -0.25 EPS for the current fiscal year.

MaxCyte Profile

MaxCyte, Inc NASDAQ: MXCT is a life sciences company that develops technologies for engineering cells used in biopharmaceutical research and the development of cell-based therapies. Its platform is designed to help researchers modify cells efficiently for applications including cell therapy, gene editing, immuno-oncology and other advanced biological treatments.

The company's primary offering is the ExPERT platform, which combines Flow Electroporation technology with specialized instruments, single-use processing assemblies, software and related support services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.