Gagnon Advisors LLC Takes $2.55 Million Position in MaxCyte, Inc. (NASDAQ:MXCT)

Key Points

• Gagnon Advisors LLC acquired 934,196 shares of MaxCyte, Inc., worth approximately $2.55 million, making it the company's 23rd largest position in their portfolio.
• MaxCyte's stock price has decreased by 29.9%, trading at $1.43, with a 1-year range between $1.38 and $5.20.
• Recent research reports show mixed analyst ratings, with one firm downgrading MaxCyte from "outperform" to "market perform," while another set a target price of $6.00 based on an "overweight" rating.

Gagnon Advisors LLC bought a new position in shares of MaxCyte, Inc. (NASDAQ:MXCT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 934,196 shares of the company's stock, valued at approximately $2,550,000. MaxCyte makes up 1.8% of Gagnon Advisors LLC's holdings, making the stock its 23rd biggest position. Gagnon Advisors LLC owned 0.88% of MaxCyte as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MXCT. American Century Companies Inc. raised its position in MaxCyte by 9.2% during the fourth quarter. American Century Companies Inc. now owns 176,367 shares of the company's stock worth $734,000 after acquiring an additional 14,825 shares during the last quarter. Prudential Financial Inc. acquired a new position in MaxCyte during the fourth quarter worth approximately $65,000. Wells Fargo & Company MN grew its stake in MaxCyte by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 61,411 shares of the company's stock worth $255,000 after buying an additional 13,376 shares during the period. Invesco Ltd. boosted its stake in shares of MaxCyte by 8.5% in the fourth quarter. Invesco Ltd. now owns 49,096 shares of the company's stock valued at $204,000 after purchasing an additional 3,848 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of MaxCyte by 47.9% in the fourth quarter. Renaissance Technologies LLC now owns 281,200 shares of the company's stock valued at $1,170,000 after purchasing an additional 91,100 shares during the period. 68.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on MXCT. Stephens assumed coverage on shares of MaxCyte in a report on Tuesday, July 22nd. They set an "overweight" rating and a $6.00 target price on the stock. William Blair lowered shares of MaxCyte from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 7th. Wall Street Zen lowered shares of MaxCyte from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, BTIG Research reiterated a "neutral" rating on shares of MaxCyte in a research report on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $7.00.

MaxCyte Trading Down 1.9%

Shares of MXCT traded down $0.03 during midday trading on Tuesday, hitting $1.30. The stock had a trading volume of 609,060 shares, compared to its average volume of 751,716. MaxCyte, Inc. has a fifty-two week low of $1.29 and a fifty-two week high of $5.20. The business has a 50-day simple moving average of $2.14 and a two-hundred day simple moving average of $2.77. The firm has a market cap of $138.06 million, a P/E ratio of -3.01 and a beta of 1.23.

MaxCyte (NASDAQ:MXCT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MaxCyte had a negative net margin of 125.22% and a negative return on equity of 22.12%. The business had revenue of $8.51 million for the quarter, compared to the consensus estimate of $9.57 million. On average, analysts expect that MaxCyte, Inc. will post -0.42 earnings per share for the current fiscal year.

MaxCyte Profile

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.