MaxCyte, Inc. (NASDAQ:MXCT) Director Buys $137,000.00 in Stock

Key Points

• Stanley C. Erck acquired 100,000 shares of MaxCyte, Inc. at an average price of $1.37, increasing his stake by 33.52% and valuing his total holdings at approximately $545,709.36.
• MaxCyte reported a negative earnings per share of ($0.12) for the latest quarter, missing analysts' forecasts, and it is projected to post -0.42 EPS for the current fiscal year.
• Recent analyst ratings show a mixed sentiment towards MaxCyte, with a consensus average rating of "Hold" and a price target of $7.00, after some firms have downgraded their ratings.

MaxCyte, Inc. (NASDAQ:MXCT - Get Free Report) Director Stanley C. Erck bought 100,000 shares of MaxCyte stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $1.37 per share, with a total value of $137,000.00. Following the completion of the acquisition, the director owned 398,328 shares of the company's stock, valued at $545,709.36. This represents a 33.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

MaxCyte Price Performance

NASDAQ:MXCT traded up $0.02 during trading hours on Monday, hitting $1.38. The company had a trading volume of 168,880 shares, compared to its average volume of 771,797. The stock has a 50-day moving average price of $2.07 and a 200 day moving average price of $2.67. MaxCyte, Inc. has a 52 week low of $1.26 and a 52 week high of $5.20. The company has a market capitalization of $146.59 million, a PE ratio of -3.20 and a beta of 1.23.

MaxCyte (NASDAQ:MXCT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm 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%. Analysts anticipate that MaxCyte, Inc. will post -0.42 EPS 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 business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of MaxCyte by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,929 shares of the company's stock valued at $249,000 after purchasing an additional 2,584 shares during the last quarter. Invesco Ltd. increased its position in MaxCyte by 8.5% during the 4th quarter. Invesco Ltd. now owns 49,096 shares of the company's stock valued at $204,000 after buying an additional 3,848 shares in the last quarter. Tower Research Capital LLC TRC increased its position in MaxCyte by 123.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,564 shares of the company's stock valued at $31,000 after buying an additional 4,173 shares in the last quarter. Moors & Cabot Inc. raised its stake in MaxCyte by 34.4% during the first quarter. Moors & Cabot Inc. now owns 17,708 shares of the company's stock valued at $48,000 after buying an additional 4,528 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in MaxCyte by 9.8% in the first quarter. Hsbc Holdings PLC now owns 53,556 shares of the company's stock worth $144,000 after acquiring an additional 4,765 shares in the last quarter. Hedge funds and other institutional investors own 68.81% of the company's stock.

Analysts Set New Price Targets

MXCT has been the topic of several research reports. BTIG Research reaffirmed a "neutral" rating on shares of MaxCyte in a research report on Monday, August 11th. Stephens began coverage on shares of MaxCyte in a report on Tuesday, July 22nd. They issued an "overweight" rating and a $6.00 price target on the stock. William Blair cut MaxCyte from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen lowered shares of MaxCyte from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, MaxCyte currently has an average rating of "Hold" and a consensus 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.