MaxCyte, Inc. (NASDAQ:MXCT) Director Buys $64,500.00 in 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 bought at an average price of $1.29 per share, with a total value of $64,500.00. Following the completion of the purchase, the director directly owned 150,879 shares in the company, valued at $194,633.91. The trade was a 49.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

MaxCyte Stock Up 1.1%

Shares of NASDAQ MXCT traded up $0.02 during midday trading on Monday, hitting $1.38. The stock had a trading volume of 168,880 shares, compared to its average volume of 771,797. The stock has a 50 day simple moving average of $2.07 and a 200-day simple moving average of $2.67. The company has a market capitalization of $146.59 million, a PE ratio of -3.20 and a beta of 1.23. 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 released its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The business had revenue of $8.51 million during the quarter, compared to analysts' expectations of $9.57 million. MaxCyte had a negative return on equity of 22.12% and a negative net margin of 125.22%. As a group, analysts expect that MaxCyte, Inc. will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MaxCyte

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cadian Capital Management LP increased its holdings in shares of MaxCyte by 14.1% during the 4th quarter. Cadian Capital Management LP now owns 9,344,424 shares of the company's stock worth $38,873,000 after buying an additional 1,155,476 shares during the last quarter. Mirabella Financial Services LLP grew its position in MaxCyte by 78.4% in the second quarter. Mirabella Financial Services LLP now owns 6,600,000 shares of the company's stock worth $14,388,000 after acquiring an additional 2,900,000 shares during the period. Mudita Advisors LLP increased its stake in MaxCyte by 3.3% during the first quarter. Mudita Advisors LLP now owns 3,328,441 shares of the company's stock worth $9,087,000 after acquiring an additional 105,034 shares during the last quarter. Chevy Chase Trust Holdings LLC raised its position in MaxCyte by 66.5% in the first 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 period. Finally, AXA S.A. lifted its stake in shares of MaxCyte by 123.2% in the 2nd quarter. AXA S.A. now owns 2,202,378 shares of the company's stock valued at $4,801,000 after purchasing an additional 1,215,481 shares during the last quarter. 68.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on MXCT. William Blair downgraded MaxCyte from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. BTIG Research reaffirmed a "neutral" rating on shares of MaxCyte in a research report on Monday, August 11th. Stephens started coverage on shares of MaxCyte in a report on Tuesday, July 22nd. They set an "overweight" rating and a $6.00 target price for the company. Finally, Wall Street Zen downgraded MaxCyte from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average 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.