MaxCyte, Inc. (NASDAQ:MXCT) Sees Significant Increase in Short Interest

Key Points

• Short interest in MaxCyte surged 68.1% to 1.83 million shares as of October 15, representing 1.9% of shares outstanding and a short-interest ratio of 1.1 days.
• Analyst sentiment remains mixed, with one Buy, one Hold, and one Sell rating; the consensus view is Hold with a $5.00 price target.
• MaxCyte reported quarterly revenue of $6.50 million and an EPS loss of $0.08, slightly outperforming estimates, while institutional investors own 68.81% of the company.

MaxCyte, Inc. (NASDAQ:MXCT - Get Free Report) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 1,831,817 shares, an increase of 68.1% from the September 30th total of 1,089,972 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average trading volume of 1,714,275 shares, the short-interest ratio is presently 1.1 days.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. BTIG Research reaffirmed a "neutral" rating on shares of MaxCyte in a report on Monday, August 24th. Weiss Ratings raised MaxCyte from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.00.

MaxCyte Stock Performance

NASDAQ MXCT opened at $1.59 on Monday. The stock's fifty day moving average is $1.26 and its two-hundred day moving average is $1.07. The firm has a market capitalization of $164.10 million, a P/E ratio of -4.82 and a beta of 1.48. MaxCyte has a fifty-two week low of $0.64 and a fifty-two week high of $1.80.

MaxCyte (NASDAQ:MXCT - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. MaxCyte had a negative return on equity of 18.92% and a negative net margin of 114.77%. The business had revenue of $6.50 million during the quarter, compared to the consensus estimate of $6.51 million. As a group, sell-side analysts forecast that MaxCyte will post -0.25 EPS for the current year.

Institutional Trading of MaxCyte

Several hedge funds have recently made changes to their positions in MXCT. Vitruvian Partners LLP purchased a new stake in shares of MaxCyte during the 2nd quarter valued at approximately $6,203,328. BlackRock Inc. purchased a new position in MaxCyte in the second quarter worth approximately $3,765,000. Brooklands Fund Management Ltd acquired a new stake in MaxCyte during the first quarter worth $1,538,000. Renaissance Technologies LLC increased its stake in MaxCyte by 153.3% during the first quarter. Renaissance Technologies LLC now owns 1,993,200 shares of the company's stock worth $1,400,000 after acquiring an additional 1,206,300 shares during the last quarter. Finally, Stonepine Capital Management LLC purchased a new stake in MaxCyte in the second quarter valued at $924,475. Hedge funds and other institutional investors own 68.81% of the company's stock.

MaxCyte Company Profile

MaxCyte, Inc NASDAQ: MXCT is a life sciences company that develops technologies for engineering cells used in biopharmaceutical research and the development of cell-based therapies. Its platform is designed to help researchers modify cells efficiently for applications including cell therapy, gene editing, immuno-oncology and other advanced biological treatments.

The company's primary offering is the ExPERT platform, which combines Flow Electroporation technology with specialized instruments, single-use processing assemblies, software and related support services.

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