Gagnon Securities LLC Acquires 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 increased its holdings in shares of MaxCyte, Inc. (NASDAQ:MXCT - Free Report) by 431.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,048,318 shares of the company's stock after buying 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 reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in shares of MaxCyte by 123.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,564 shares of the company's stock worth $31,000 after buying an additional 4,173 shares during the last quarter. Kwmg LLC bought a new stake in shares of MaxCyte during the 1st quarter worth $40,000. Moors & Cabot Inc. lifted its position in shares of MaxCyte by 34.4% during the 1st quarter. Moors & Cabot Inc. now owns 17,708 shares of the company's stock worth $48,000 after buying an additional 4,528 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of MaxCyte during the 4th quarter worth $56,000. Finally, New York State Common Retirement Fund increased its holdings in MaxCyte by 131.4% in the 1st quarter. New York State Common Retirement Fund now owns 21,837 shares of the company's stock worth $60,000 after purchasing an additional 12,400 shares in the last quarter. 68.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MXCT. William Blair cut MaxCyte to a "market perform" rating in a report on Thursday. Wall Street Zen raised MaxCyte from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Finally, Stephens began coverage on MaxCyte in a report on Tuesday, July 22nd. They issued an "overweight" rating and a $6.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $7.00.

MaxCyte Trading Down 1.0%

Shares of MXCT stock opened at $2.04 on Thursday. The stock has a market cap of $217.10 million, a price-to-earnings ratio of -5.10 and a beta of 1.23. The stock has a 50-day moving average of $2.19 and a 200-day moving average of $2.87. MaxCyte, Inc. has a 1-year low of $1.97 and a 1-year high of $5.20.

MaxCyte (NASDAQ:MXCT - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $8.51 million during the quarter, compared to analyst estimates of $9.57 million. MaxCyte had a negative net margin of 110.92% and a negative return on equity of 19.90%. Sell-side analysts forecast 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.

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