Royce & Associates LP Acquires 241,000 Shares of MaxCyte, Inc. (NASDAQ:MXCT)

Key Points

• Royce & Associates LP increased its holdings in MaxCyte, Inc. by 30.1%, acquiring an additional 241,000 shares and bringing its total ownership to around $2.84 million.
• A number of institutional investors have also grown their stakes, with 68.81% of MaxCyte's stock owned by institutional investors and hedge funds.
• Wall Street analysts have upgraded MaxCyte's rating, with a new target price of $6.00 following a recent report indicating the company met EPS estimates while reporting revenue above expectations.

Royce & Associates LP boosted its holdings in MaxCyte, Inc. (NASDAQ:MXCT - Free Report) by 30.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,040,873 shares of the company's stock after purchasing an additional 241,000 shares during the period. Royce & Associates LP owned approximately 0.98% of MaxCyte worth $2,842,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MXCT. Mirabella Financial Services LLP bought a new position in shares of MaxCyte during the fourth quarter valued at about $15,392,000. Cadian Capital Management LP raised its position in MaxCyte by 14.1% during the 4th quarter. Cadian Capital Management LP now owns 9,344,424 shares of the company's stock valued at $38,873,000 after purchasing an additional 1,155,476 shares during the last quarter. AXA S.A. bought a new position in MaxCyte during the 4th quarter valued at approximately $4,105,000. Chevy Chase Trust Holdings LLC raised its position in MaxCyte by 66.5% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 2,230,182 shares of the company's stock valued at $6,088,000 after purchasing an additional 890,353 shares during the last quarter. Finally, CenterBook Partners LP raised its position in MaxCyte by 48.2% during the 4th quarter. CenterBook Partners LP now owns 867,009 shares of the company's stock valued at $3,607,000 after purchasing an additional 281,923 shares during the last quarter. 68.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MXCT shares. Stephens began coverage on MaxCyte in a report on Tuesday, July 22nd. They set an "overweight" rating and a $6.00 target price for the company. Wall Street Zen raised shares of MaxCyte from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th.

MaxCyte Stock Performance

Shares of MaxCyte stock traded down $0.05 during trading on Thursday, hitting $2.07. The company's stock had a trading volume of 107,787 shares, compared to its average volume of 734,457. MaxCyte, Inc. has a 52 week low of $2.00 and a 52 week high of $5.20. The company has a fifty day simple moving average of $2.21 and a two-hundred day simple moving average of $2.96. The company has a market capitalization of $219.76 million, a PE ratio of -5.16 and a beta of 1.23.

MaxCyte (NASDAQ:MXCT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.10). MaxCyte had a negative return on equity of 19.90% and a negative net margin of 110.92%. The company had revenue of $10.39 million during the quarter, compared to analyst estimates of $9.05 million. As a group, analysts predict that MaxCyte, Inc. will post -0.42 EPS for the current year.

About MaxCyte

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.