Swedbank AB Sells 210,000 Shares of MaxCyte, Inc. $MXCT

Key Points

• Swedbank AB has reduced its stake in MaxCyte, Inc. by 13.1%, now holding approximately 1.31% of the company after selling 210,000 shares, valued at $3.8 million.
• In the first quarter, several hedge funds increased their positions in MaxCyte, with Chevy Chase Trust Holdings LLC boosting its holdings by 66.5% and Gagnon Securities LLC increasing theirs by 431.3%.
• MaxCyte reported losses in its latest quarterly earnings, missing analyst expectations with revenue of $8.51 million against forecasts of $9.57 million, and a negative EPS of ($0.12).

Swedbank AB lowered its stake in shares of MaxCyte, Inc. (NASDAQ:MXCT - Free Report) by 13.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,390,000 shares of the company's stock after selling 210,000 shares during the quarter. Swedbank AB owned approximately 1.31% of MaxCyte worth $3,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Gagnon Advisors LLC acquired a new position in MaxCyte in the first quarter worth $2,550,000. Chevy Chase Trust Holdings LLC increased its position in shares of MaxCyte by 66.5% in the first quarter. Chevy Chase Trust Holdings LLC now owns 2,230,182 shares of the company's stock worth $6,088,000 after acquiring an additional 890,353 shares in the last quarter. Gagnon Securities LLC boosted its holdings in shares of MaxCyte by 431.3% during the first quarter. Gagnon Securities LLC now owns 1,048,318 shares of the company's stock worth $2,862,000 after purchasing an additional 850,992 shares during the period. Nuveen LLC acquired a new stake in shares of MaxCyte during the first quarter worth approximately $733,000. Finally, Royce & Associates LP boosted its holdings in shares of MaxCyte by 30.1% during the first quarter. Royce & Associates LP now owns 1,040,873 shares of the company's stock worth $2,842,000 after purchasing an additional 241,000 shares during the period. Institutional investors and hedge funds own 68.81% of the company's stock.

Insider Buying and Selling

In related news, CEO Maher Masoud bought 75,000 shares of MaxCyte stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average cost of $1.37 per share, for a total transaction of $102,750.00. Following the completion of the acquisition, the chief executive officer directly owned 175,000 shares of the company's stock, valued at approximately $239,750. The trade was a 75.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas J. Swirsky bought 50,000 shares of MaxCyte stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average price of $1.29 per share, for a total transaction of $64,500.00. Following the completion of the acquisition, the chief financial officer directly owned 161,811 shares of the company's stock, valued at $208,736.19. The trade was a 44.72% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 355,000 shares of company stock valued at $479,950 over the last three months. Insiders own 3.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MXCT. William Blair cut shares of MaxCyte from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 7th. BTIG Research reiterated a "neutral" rating on shares of MaxCyte in a research note on Monday, August 11th. Wall Street Zen cut shares of MaxCyte from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Stephens began coverage on shares of MaxCyte in a research note on Tuesday, July 22nd. They issued an "overweight" rating and a $6.00 target price for the company. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $7.00.

MaxCyte Stock Down 6.2%

Shares of NASDAQ:MXCT traded down $0.10 during midday trading on Friday, hitting $1.52. The stock had a trading volume of 1,003,703 shares, compared to its average volume of 613,271. MaxCyte, Inc. has a 12 month low of $1.26 and a 12 month high of $5.20. The business's 50-day simple moving average is $1.68 and its 200-day simple moving average is $2.25. The company has a market cap of $162.05 million, a P/E ratio of -3.53 and a beta of 1.20.

MaxCyte (NASDAQ:MXCT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $9.57 million. As a group, equities analysts predict 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.