Richard Douglas Acquires 80,000 Shares of MaxCyte, Inc. (NASDAQ:MXCT) Stock

MaxCyte, Inc. (NASDAQ:MXCT) Director Richard Douglas acquired 80,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was acquired at an average price of $1.39 per share, with a total value of $111,200.00. Following the purchase, the director directly owned 230,577 shares in the company, valued at approximately $320,502.03. This represents a 53.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

MaxCyte Stock Down 3.5%

MXCT stock opened at $1.36 on Friday. The company’s 50-day moving average price is $2.07 and its two-hundred day moving average price is $2.70. The firm has a market cap of $144.99 million, a P/E ratio of -3.16 and a beta of 1.23. MaxCyte, Inc. has a 12 month low of $1.26 and a 12 month high of $5.20.

MaxCyte (NASDAQ:MXCT) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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 predict that MaxCyte, Inc. will post -0.42 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on MXCT shares. Stephens assumed coverage on shares of MaxCyte in a research report on Tuesday, July 22nd. They set an “overweight” rating and a $6.00 target price on the stock. BTIG Research reiterated a “neutral” rating on shares of MaxCyte in a research note on Monday, August 11th. William Blair lowered MaxCyte from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen cut MaxCyte from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.00.

Hedge Funds Weigh In On MaxCyte

A number of institutional investors have recently modified their holdings of MXCT. Mirabella Financial Services LLP acquired a new stake in MaxCyte in the fourth quarter valued at about $15,392,000. AXA S.A. lifted its holdings in shares of MaxCyte by 123.2% in the second quarter. AXA S.A. now owns 2,202,378 shares of the company’s stock worth $4,801,000 after acquiring an additional 1,215,481 shares during the last quarter. Cadian Capital Management LP lifted its holdings in shares of MaxCyte by 14.1% in the fourth quarter. Cadian Capital Management LP now owns 9,344,424 shares of the company’s stock worth $38,873,000 after acquiring an additional 1,155,476 shares during the last quarter. Gagnon Advisors LLC acquired a new stake in shares of MaxCyte in the 1st quarter valued at approximately $2,550,000. Finally, Chevy Chase Trust Holdings LLC grew its holdings in shares of MaxCyte by 66.5% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 2,230,182 shares of the company’s stock valued at $6,088,000 after purchasing an additional 890,353 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.