MaxCyte, Inc. (NASDAQ:MXCT) Director Buys $111,200.00 in Stock

Key Points

• Director Richard Douglas of MaxCyte, Inc. purchased 80,000 shares of the company's stock at an average cost of $1.39, increasing his total shares to 230,577.
• MaxCyte recently reported (0.12) earnings per share, missing analysts' expectations and experiencing a negative return on equity of 22.12%.
• Several analysts have downgraded MaxCyte's stock; it currently holds a consensus rating of "Hold" with a price target of $7.00.

MaxCyte, Inc. (NASDAQ:MXCT - Get Free Report) Director Richard Douglas bought 80,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average price of $1.39 per share, with a total value of $111,200.00. Following the acquisition, the director directly owned 230,577 shares in the company, valued at $320,502.03. The trade was a 53.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

MaxCyte Stock Up 1.1%

NASDAQ MXCT traded up $0.02 during trading hours on Monday, hitting $1.38. 168,880 shares of the company were exchanged, compared to its average volume of 771,797. The firm has a market cap of $146.59 million, a price-to-earnings ratio of -3.20 and a beta of 1.23. The company has a 50 day moving average of $2.07 and a two-hundred day moving average of $2.67. MaxCyte, Inc. has a 52-week low of $1.26 and a 52-week high of $5.20.

MaxCyte (NASDAQ:MXCT - Get Free Report) last announced 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 company had revenue of $8.51 million for the quarter, compared to analyst estimates of $9.57 million. MaxCyte had a negative return on equity of 22.12% and a negative net margin of 125.22%. On average, equities research analysts predict that MaxCyte, Inc. will post -0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MXCT shares. Stephens began coverage on MaxCyte in a report on Tuesday, July 22nd. They set an "overweight" rating and a $6.00 target price for the company. Wall Street Zen lowered shares of MaxCyte from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. William Blair downgraded shares of MaxCyte from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 7th. Finally, BTIG Research reiterated a "neutral" rating on shares of MaxCyte in a report on Monday, August 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, MaxCyte has a consensus rating of "Hold" and a consensus price target of $7.00.

Institutional Investors Weigh In On MaxCyte

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in shares of MaxCyte by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 61,411 shares of the company's stock worth $255,000 after purchasing an additional 13,376 shares in the last quarter. Invesco Ltd. lifted its holdings in MaxCyte by 8.5% during the 4th quarter. Invesco Ltd. now owns 49,096 shares of the company's stock worth $204,000 after buying an additional 3,848 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of MaxCyte by 47.9% during the 4th quarter. Renaissance Technologies LLC now owns 281,200 shares of the company's stock worth $1,170,000 after acquiring an additional 91,100 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of MaxCyte in the 4th quarter valued at about $245,000. Finally, Walleye Capital LLC acquired a new stake in shares of MaxCyte during the 4th quarter worth about $461,000. 68.81% of the stock is owned by hedge funds and other institutional investors.

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.