Gagnon Securities LLC Buys 850,992 Shares of MaxCyte, Inc. (NASDAQ:MXCT)

Key Points

• Gagnon Securities LLC significantly increased its stake in MaxCyte, acquiring 850,992 shares to reach a total of over 1 million shares, representing a 431.3% increase in the 1st quarter.
• Institutional investors own 68.81% of MaxCyte's stock, reflecting strong interest from large players in the market.
• MaxCyte reported a loss of $0.12 earnings per share for the last quarter, missing analyst expectations and generating revenue of $8.51 million.

Gagnon Securities LLC raised its position in shares of MaxCyte, Inc. (NASDAQ:MXCT - Free Report) by 431.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,048,318 shares of the company's stock after purchasing an additional 850,992 shares during the quarter. Gagnon Securities LLC owned 0.99% of MaxCyte worth $2,862,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in MaxCyte by 123.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,564 shares of the company's stock worth $31,000 after purchasing an additional 4,173 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of MaxCyte during the fourth quarter valued at about $56,000. Kwmg LLC acquired a new position in MaxCyte during the first quarter valued at $40,000. Prudential Financial Inc. purchased a new stake in shares of MaxCyte in the fourth quarter valued at approximately $65,000. Finally, Moors & Cabot Inc. lifted its holdings in MaxCyte by 34.4% in the 1st quarter. Moors & Cabot Inc. now owns 17,708 shares of the company's stock valued at $48,000 after purchasing an additional 4,528 shares in the last quarter. Hedge funds and other institutional investors own 68.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MXCT shares. Stephens began coverage on shares of MaxCyte in a research note on Tuesday, July 22nd. They issued an "overweight" rating and a $6.00 price objective for the company. BTIG Research restated a "neutral" rating on shares of MaxCyte in a research report on Monday. William Blair cut MaxCyte from an "outperform" rating to a "market perform" rating in a report on Thursday. Finally, Wall Street Zen cut shares of MaxCyte from a "hold" rating to a "sell" rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, MaxCyte has a consensus rating of "Hold" and a consensus price target of $7.00.

MaxCyte Stock Down 1.8%

Shares of MXCT traded down $0.03 during trading hours on Monday, reaching $1.36. The stock had a trading volume of 502,316 shares, compared to its average volume of 748,905. The firm has a 50-day moving average of $2.16 and a 200 day moving average of $2.79. MaxCyte, Inc. has a 52 week low of $1.32 and a 52 week high of $5.20. The company has a market cap of $144.45 million, a P/E ratio of -3.17 and a beta of 1.23.

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

MaxCyte Company 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.