MaxCyte, Inc. (NASDAQ:MXCT) Sees Significant Increase in Short Interest

MaxCyte, Inc. (NASDAQ:MXCT) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 5,092,073 shares, a growth of 31.2% from the January 29th total of 3,881,689 shares. Currently, 4.9% of the company’s stock are short sold. Based on an average daily trading volume, of 1,727,932 shares, the short-interest ratio is currently 2.9 days. Based on an average daily trading volume, of 1,727,932 shares, the short-interest ratio is currently 2.9 days. Currently, 4.9% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MXCT shares. Wall Street Zen upgraded shares of MaxCyte from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MaxCyte in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MaxCyte presently has an average rating of “Hold” and an average target price of $7.00.

Institutional Investors Weigh In On MaxCyte

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. acquired a new stake in MaxCyte in the second quarter worth about $26,000. CWM LLC boosted its stake in shares of MaxCyte by 92.7% in the 2nd quarter. CWM LLC now owns 12,132 shares of the company’s stock valued at $26,000 after purchasing an additional 5,836 shares during the last quarter. State of Wyoming acquired a new stake in shares of MaxCyte during the 2nd quarter worth approximately $38,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of MaxCyte during the second quarter worth approximately $40,000. Finally, Kwmg LLC lifted its holdings in MaxCyte by 75.8% in the third quarter. Kwmg LLC now owns 25,833 shares of the company’s stock valued at $41,000 after buying an additional 11,135 shares during the period. 68.81% of the stock is owned by institutional investors and hedge funds.

MaxCyte Price Performance

Shares of MXCT stock traded down $0.03 during trading hours on Tuesday, reaching $0.76. 1,496,722 shares of the company were exchanged, compared to its average volume of 1,412,674. MaxCyte has a fifty-two week low of $0.64 and a fifty-two week high of $3.58. The stock’s fifty day moving average is $1.11 and its two-hundred day moving average is $1.40.

About MaxCyte

MaxCyte, Inc (NASDAQ: MXCT) is a clinical‐stage cell therapy platform company that develops and commercializes proprietary flow electroporation technology for the delivery of macromolecules into living cells. The company’s instruments and consumables are designed to support research, preclinical development and clinical‐scale manufacturing of cell therapies across a variety of modalities, including engineered T cells, natural killer (NK) cells and induced pluripotent stem cell (iPSC) therapies.