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

Key Points

• William W. Brooke, a director at MaxCyte, purchased 50,000 shares at an average price of $1.29, increasing his stake to 150,879 shares and representing a 49.56% increase in his ownership.
• MaxCyte reported a quarterly revenue of $8.51 million, missing estimates, and had a negative net margin of 125.22%.
• Analysts show a mixed outlook with a consensus rating of “Hold” and varied price targets, with one research group setting a target as high as $6.00.

MaxCyte, Inc. (NASDAQ:MXCT - Get Free Report) Director William W. Brooke acquired 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average price of $1.29 per share, with a total value of $64,500.00. Following the completion of the acquisition, the director owned 150,879 shares of the company's stock, valued at $194,633.91. This represents a 49.56% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

MaxCyte Stock Performance

Shares of NASDAQ MXCT traded up $0.11 during midday trading on Wednesday, hitting $1.38. 2,119,726 shares of the company's stock were exchanged, compared to its average volume of 693,983. MaxCyte, Inc. has a 12 month low of $1.26 and a 12 month high of $5.20. The company's 50 day moving average price is $2.12 and its 200 day moving average price is $2.76.

MaxCyte (NASDAQ:MXCT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MaxCyte had a negative return on equity of 22.12% and a negative net margin of 125.22%. The business had revenue of $8.51 million for the quarter, compared to the consensus estimate of $9.57 million. As a group, equities research analysts predict that MaxCyte, Inc. will post -0.42 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on MXCT shares. Stephens started coverage on MaxCyte in a research report on Tuesday, July 22nd. They set an "overweight" rating and a $6.00 price target for the company. BTIG Research reaffirmed a "neutral" rating on shares of MaxCyte in a research report on Monday. William Blair cut shares of MaxCyte from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen lowered shares of MaxCyte from a "hold" rating to a "sell" rating in a research note on Saturday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $7.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake 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 worth $26,000 after acquiring an additional 11,665 shares during the period. CWM LLC boosted its stake in shares of MaxCyte by 92.7% during the 2nd quarter. CWM LLC now owns 12,132 shares of the company's stock worth $26,000 after acquiring an additional 5,836 shares during the period. Prudential Financial Inc. acquired a new stake in MaxCyte during the 2nd quarter worth approximately $26,000. May Hill Capital LLC acquired a new stake in MaxCyte during the 2nd quarter worth approximately $27,000. Finally, Tower Research Capital LLC TRC lifted its holdings in 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 purchasing an additional 4,173 shares during the last quarter. 68.81% of the stock is currently owned by institutional investors.

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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