MaxCyte (NASDAQ:MXCT) Sees Large Volume Increase

MaxCyte, Inc. (NASDAQ:MXCT) shares saw an uptick in trading volume on Wednesday . 1,361,421 shares traded hands during mid-day trading, an increase of 121% from the previous session’s volume of 616,176 shares.The stock last traded at $5.09 and had previously closed at $3.93.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. William Blair restated an “outperform” rating on shares of MaxCyte in a report on Wednesday, March 13th. Stephens reaffirmed an “overweight” rating and issued a $11.00 target price on shares of MaxCyte in a research report on Tuesday, April 23rd. Finally, BTIG Research reduced their price target on MaxCyte from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, March 13th.

MaxCyte Stock Up 19.1 %

The company’s 50-day simple moving average is $4.10 and its 200 day simple moving average is $4.37. The stock has a market capitalization of $489.27 million, a price-to-earnings ratio of -12.51 and a beta of 1.36.

MaxCyte (NASDAQ:MXCT) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. MaxCyte had a negative return on equity of 15.90% and a negative net margin of 91.85%. The business had revenue of $15.67 million for the quarter, compared to analyst estimates of $15.60 million. On average, equities analysts expect that MaxCyte, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of MaxCyte

A number of institutional investors and hedge funds have recently modified their holdings of MXCT. SG Americas Securities LLC acquired a new position in MaxCyte during the 3rd quarter worth $118,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MaxCyte by 140.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,205 shares of the company’s stock worth $72,000 after purchasing an additional 13,574 shares during the last quarter. M&T Bank Corp boosted its stake in MaxCyte by 3.4% during the 3rd quarter. M&T Bank Corp now owns 163,513 shares of the company’s stock valued at $510,000 after purchasing an additional 5,443 shares during the period. Victory Capital Management Inc. acquired a new stake in MaxCyte in the 3rd quarter valued at approximately $31,000. Finally, Blair William & Co. IL increased its position in MaxCyte by 94.4% in the 3rd quarter. Blair William & Co. IL now owns 251,851 shares of the company’s stock worth $786,000 after buying an additional 122,326 shares during the period. 68.81% of the stock is currently owned by institutional investors and hedge funds.

MaxCyte Company Profile

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.