Insider Buying: MaxCyte, Inc. (NASDAQ:MXCT) CFO Acquires 50,000 Shares of Stock

Key Points

• Douglas J. Swirsky, CFO of MaxCyte, Inc., bought 50,000 shares at an average cost of $1.29, increasing his total holdings to 161,811 shares.
• Following a quarterly earnings report, MaxCyte missed analysts' EPS estimates and reported a negative return on equity of 22.12% with a revenue of $8.51 million.
• Institutional investors hold 68.81% of MaxCyte's stock, with several recent investments boosting their positions significantly during the 2nd quarter.

MaxCyte, Inc. (NASDAQ:MXCT - Get Free Report) CFO Douglas J. Swirsky purchased 50,000 shares of MaxCyte stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average cost of $1.29 per share, with a total value of $64,500.00. Following the acquisition, the chief financial officer owned 161,811 shares of the company's stock, valued at approximately $208,736.19. This trade represents a 44.72% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

MaxCyte Price Performance

Shares of NASDAQ MXCT traded up $0.11 during midday trading on Wednesday, reaching $1.38. 2,119,726 shares of the company traded hands, compared to its average volume of 693,983. MaxCyte, Inc. has a 52 week low of $1.26 and a 52 week high of $5.20. The stock has a 50-day moving average price of $2.12 and a 200 day moving average price of $2.76.

MaxCyte (NASDAQ:MXCT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 22.12% and a negative net margin of 125.22%. Equities analysts expect that MaxCyte, Inc. will post -0.42 EPS for the current year.

Institutional Investors Weigh In On MaxCyte

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its position in shares of MaxCyte by 7,935.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 11,812 shares of the company's stock valued at $26,000 after purchasing an additional 11,665 shares in the last quarter. CWM LLC raised its holdings in shares of MaxCyte by 92.7% in the 2nd quarter. CWM LLC now owns 12,132 shares of the company's stock worth $26,000 after purchasing an additional 5,836 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of MaxCyte in the 2nd quarter worth approximately $26,000. May Hill Capital LLC bought a new stake in shares of MaxCyte in the 2nd quarter worth approximately $27,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of MaxCyte by 123.1% in the 4th 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 in the last quarter. 68.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MXCT shares. BTIG Research reissued a "neutral" rating on shares of MaxCyte in a report on Monday. Stephens started coverage on shares of MaxCyte in a report on Tuesday, July 22nd. They set an "overweight" rating and a $6.00 price target for the company. Wall Street Zen downgraded shares of MaxCyte from a "hold" rating to a "sell" rating in a report on Saturday. Finally, William Blair downgraded shares of MaxCyte from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. One investment 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.00.

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.

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