MaxCyte (NASDAQ:MXCT) Sees Strong Trading Volume After Insider Buying Activity

MaxCyte, Inc. (NASDAQ:MXCT) saw unusually-strong trading volume on Tuesday after an insider bought additional shares in the company. Approximately 303,182 shares were traded during trading, a decline of 48% from the previous session’s volume of 579,646 shares.The stock last traded at $5.17 and had previously closed at $4.96.

Specifically, CEO Maher Masoud acquired 29,557 shares of MaxCyte stock in a transaction on Friday, June 7th. The shares were bought at an average cost of $4.87 per share, with a total value of $143,942.59. Following the completion of the purchase, the chief executive officer now directly owns 29,557 shares of the company’s stock, valued at approximately $143,942.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on MXCT. William Blair reissued an “outperform” rating on shares of MaxCyte in a research report on Wednesday, March 13th. BTIG Research cut their target price on MaxCyte from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Finally, Stephens reissued an “overweight” rating and issued a $11.00 target price on shares of MaxCyte in a research report on Tuesday, April 23rd.

MaxCyte Trading Up 4.2 %

The firm has a 50-day simple moving average of $4.28 and a two-hundred day simple moving average of $4.56. The company has a market capitalization of $539.75 million, a price-to-earnings ratio of -14.17 and a beta of 1.45.

MaxCyte (NASDAQ:MXCT) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. The company had revenue of $11.34 million for the quarter, compared to the consensus estimate of $7.75 million. MaxCyte had a negative return on equity of 15.68% and a negative net margin of 83.00%. Equities research analysts anticipate that MaxCyte, Inc. will post -0.5 EPS for the current year.

Institutional Investors Weigh In On MaxCyte

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new stake in shares of MaxCyte during the 3rd quarter worth about $31,000. Blair William & Co. IL boosted its stake in shares of MaxCyte by 94.4% during the 3rd quarter. Blair William & Co. IL now owns 251,851 shares of the company’s stock worth $786,000 after acquiring an additional 122,326 shares in the last quarter. Maven Securities LTD purchased a new position in MaxCyte in the 3rd quarter valued at about $637,000. Johnson Investment Counsel Inc. purchased a new position in MaxCyte in the 3rd quarter valued at about $34,000. Finally, Aigen Investment Management LP purchased a new position in MaxCyte in the 3rd quarter valued at about $44,000. 68.81% of the stock is 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.