Richard Douglas Purchases 80,000 Shares of MaxCyte, Inc. (NASDAQ:MXCT) 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 on Wednesday, August 13th. The stock was bought at an average cost of $1.39 per share, with a total value of $111,200.00. Following the completion of the acquisition, the director owned 230,577 shares of the company's stock, valued at $320,502.03. This represents a 53.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

MaxCyte Trading Up 8.7%

Shares of MXCT traded up $0.11 during mid-day trading on Wednesday, reaching $1.38. 2,119,726 shares of the company's stock were exchanged, compared to its average volume of 693,983. The company has a 50-day simple moving average of $2.12 and a two-hundred day simple moving average of $2.76. 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 earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $8.51 million for the quarter, compared to analyst estimates of $9.57 million. Equities analysts forecast that MaxCyte, Inc. will post -0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MXCT has been the subject of a number of research analyst reports. William Blair cut shares of MaxCyte from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. Stephens initiated coverage on shares of MaxCyte in a report on Tuesday, July 22nd. They issued an "overweight" rating and a $6.00 target price for the company. BTIG Research reaffirmed a "neutral" rating on shares of MaxCyte in a report on Monday. Finally, Wall Street Zen cut shares of MaxCyte from a "hold" rating to a "sell" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, MaxCyte has a consensus rating of "Hold" and a consensus price target of $7.00.

Institutional Trading of MaxCyte

A number of hedge funds have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in MaxCyte during the second quarter worth approximately $282,000. Mirabella Financial Services LLP boosted its holdings in shares of MaxCyte by 78.4% in the 2nd quarter. Mirabella Financial Services LLP now owns 6,600,000 shares of the company's stock valued at $14,388,000 after purchasing an additional 2,900,000 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of MaxCyte in the 2nd quarter valued at $299,000. Quadrature Capital Ltd acquired a new position in shares of MaxCyte in the 2nd quarter valued at $60,000. Finally, Hsbc Holdings PLC increased its stake in MaxCyte by 410.2% during the second quarter. Hsbc Holdings PLC now owns 273,218 shares of the company's stock worth $598,000 after acquiring an additional 219,662 shares during the last quarter. Institutional investors and hedge funds own 68.81% of the company's stock.

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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