Stanley C. Erck Acquires 100,000 Shares of MaxCyte, Inc. (NASDAQ:MXCT) 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 purchased 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average price of $1.37 per share, for a total transaction of $137,000.00. Following the transaction, the director directly owned 398,328 shares of the company's stock, valued at $545,709.36. This trade represents a 33.52% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

MaxCyte Stock Performance

MaxCyte stock traded up $0.11 during mid-day trading on Wednesday, reaching $1.38. The company had a trading volume of 2,119,726 shares, compared to its average volume of 693,983. MaxCyte, Inc. has a fifty-two week low of $1.26 and a fifty-two week high of $5.20. The business has a fifty day simple moving average of $2.12 and a 200 day simple moving average of $2.76.

MaxCyte (NASDAQ:MXCT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). MaxCyte had a negative net margin of 125.22% and a negative return on equity of 22.12%. The firm had revenue of $8.51 million for the quarter, compared to analyst estimates of $9.57 million. On average, equities analysts forecast that MaxCyte, Inc. will post -0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of MaxCyte

A number of hedge funds have recently made changes to their positions in MXCT. Farther Finance Advisors LLC boosted its stake in shares of MaxCyte by 7,935.4% during the second quarter. Farther Finance Advisors LLC now owns 11,812 shares of the company's stock valued at $26,000 after purchasing an additional 11,665 shares in the last quarter. CWM LLC lifted its stake in shares of MaxCyte by 92.7% in the second quarter. CWM LLC now owns 12,132 shares of the company's stock worth $26,000 after acquiring an additional 5,836 shares during the period. Prudential Financial Inc. acquired a new position in shares of MaxCyte in the second quarter worth approximately $26,000. May Hill Capital LLC acquired a new position in shares of MaxCyte in the second quarter worth approximately $27,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of MaxCyte by 123.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,564 shares of the company's stock worth $31,000 after acquiring an additional 4,173 shares during the period. 68.81% of the stock is owned by institutional investors and hedge funds.

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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