BlackRock Inc. Buys New Holdings in MaxCyte, Inc. $MXCT

Key Points

• BlackRock acquired 3,060,960 MaxCyte shares worth approximately $3.765 million, giving it a 2.86% stake in the company.
• Institutional investors and hedge funds collectively own 68.81% of MaxCyte, with several firms recently increasing or initiating positions.
• Analysts have a consensus “Hold” rating and a $5.00 target price. MaxCyte recently reported a quarterly loss of $0.08 per share, narrowly beating estimates, while revenue of $6.5 million was roughly in line with expectations.

BlackRock Inc. purchased a new position in shares of MaxCyte, Inc. (NASDAQ:MXCT - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,060,960 shares of the company's stock, valued at approximately $3,765,000. BlackRock Inc. owned 2.86% of MaxCyte as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in MaxCyte by 39.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 36,271 shares of the company's stock valued at $57,000 after acquiring an additional 10,263 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of MaxCyte in the second quarter worth approximately $26,000. State of Wyoming bought a new position in shares of MaxCyte in the second quarter valued at approximately $38,000. American Century Companies Inc. lifted its holdings in shares of MaxCyte by 10.6% in the second quarter. American Century Companies Inc. now owns 196,686 shares of the company's stock valued at $429,000 after purchasing an additional 18,848 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of MaxCyte by 10.1% during the fourth quarter. Hsbc Holdings PLC now owns 295,400 shares of the company's stock valued at $464,000 after buying an additional 26,996 shares during the last quarter. Institutional investors and hedge funds own 68.81% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on MXCT shares. Wall Street Zen upgraded shares of MaxCyte from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings upgraded shares of MaxCyte from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 25th. Finally, BTIG Research reissued a "neutral" rating on shares of MaxCyte in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $5.00.

MaxCyte Stock Up 1.6%

NASDAQ MXCT opened at $1.28 on Friday. The firm has a market cap of $132.10 million, a P/E ratio of -3.88 and a beta of 1.52. The company's 50 day moving average is $1.24 and its 200-day moving average is $1.03. MaxCyte, Inc. has a 12-month low of $0.64 and a 12-month high of $1.86.

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

MaxCyte Company Profile

MaxCyte, Inc NASDAQ: MXCT is a clinical‐stage cell therapy platform company that develops and commercializes proprietary flow electroporation technology for the delivery of macromolecules into living cells. The company's instruments and consumables are designed to support research, preclinical development and clinical‐scale manufacturing of cell therapies across a variety of modalities, including engineered T cells, natural killer (NK) cells and induced pluripotent stem cell (iPSC) therapies.

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