Goldman Sachs Group Inc. Trims Holdings in MaxCyte, Inc. $MXCT

Key Points

• Goldman Sachs Group Inc. reduced its holdings in MaxCyte, Inc. by 44.7% in the first quarter, owning 286,828 shares valued at $783,000 after selling 232,210 shares.
• MaxCyte's stock has received mixed ratings from analysts, with William Blair downgrading it to "market perform" and a consensus price target of $7.00 reported.
• CEO Maher Masoud increased his ownership of MaxCyte by purchasing 75,000 shares for $102,750, reflecting a significant personal investment in the company.

Goldman Sachs Group Inc. trimmed its holdings in shares of MaxCyte, Inc. (NASDAQ:MXCT - Free Report) by 44.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,828 shares of the company's stock after selling 232,210 shares during the quarter. Goldman Sachs Group Inc. owned 0.27% of MaxCyte worth $783,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Kwmg LLC bought a new stake in MaxCyte during the 1st quarter valued at about $40,000. Moors & Cabot Inc. raised its stake in shares of MaxCyte by 34.4% during the first quarter. Moors & Cabot Inc. now owns 17,708 shares of the company's stock valued at $48,000 after acquiring an additional 4,528 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of MaxCyte in the fourth quarter valued at approximately $56,000. New York State Common Retirement Fund grew its stake in MaxCyte by 131.4% in the first 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. Finally, Two Sigma Advisers LP purchased a new position in MaxCyte during the 4th quarter worth $74,000. 68.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. William Blair cut MaxCyte from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. Wall Street Zen lowered shares of MaxCyte from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. 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. Finally, BTIG Research restated a "neutral" rating on shares of MaxCyte in a report on Monday, August 11th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $7.00.

MaxCyte Price Performance

NASDAQ MXCT opened at $1.71 on Wednesday. The company has a market cap of $182.30 million, a price-to-earnings ratio of -3.98 and a beta of 1.20. The stock's fifty day moving average price is $1.65 and its 200 day moving average price is $2.21. MaxCyte, Inc. has a 1 year low of $1.26 and a 1 year high of $5.20.

MaxCyte (NASDAQ:MXCT - Get Free Report) last posted 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 firm had revenue of $8.51 million for the quarter, compared to analysts' expectations of $9.57 million. MaxCyte had a negative net margin of 125.22% and a negative return on equity of 22.12%. Research analysts expect that MaxCyte, Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In other MaxCyte news, CEO Maher Masoud acquired 75,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of $1.37 per share, for a total transaction of $102,750.00. Following the completion of the purchase, the chief executive officer directly owned 175,000 shares of the company's stock, valued at $239,750. The trade was a 75.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stanley C. Erck bought 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average price of $1.37 per share, with a total value of $137,000.00. Following the completion of the transaction, the director directly owned 398,328 shares of the company's stock, valued at $545,709.36. This trade represents a 33.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 355,000 shares of company stock worth $479,950 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.

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.

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