Stonepine Capital Management LLC Makes New Investment in MaxCyte, Inc. $MXCT

Stonepine Capital Management LLC acquired a new position in shares of MaxCyte, Inc. (NASDAQ:MXCT) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 751,606 shares of the company’s stock, valued at approximately $924,475,000. Stonepine Capital Management LLC owned approximately 0.70% of MaxCyte as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MXCT. Public Employees Retirement System of Ohio purchased a new stake in MaxCyte during the second quarter worth approximately $54,000. Bank of America Corp DE purchased a new position in MaxCyte in the second quarter valued at approximately $124,000. Man Group plc purchased a new position in MaxCyte in the second quarter valued at approximately $552,000. J. Goldman & Co LP acquired a new stake in MaxCyte during the second quarter worth approximately $123,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of MaxCyte during the 2nd quarter worth approximately $189,000. Hedge funds and other institutional investors own 68.81% of the company’s stock.

MaxCyte Trading Down 2.3%

Shares of NASDAQ MXCT opened at $1.28 on Friday. The stock has a market cap of $132.10 million, a P/E ratio of -3.88 and a beta of 1.48. MaxCyte, Inc. has a twelve month low of $0.64 and a twelve month high of $1.86. The stock has a 50 day moving average of $1.23 and a two-hundred day moving average of $1.01.

MaxCyte (NASDAQ:MXCT) last announced its earnings results on Wednesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $6.50 million for the quarter, compared to analyst estimates of $6.51 million. MaxCyte had a negative net margin of 114.77% and a negative return on equity of 18.92%. As a group, research analysts predict that MaxCyte, Inc. will post -0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

MXCT has been the topic of several research analyst reports. Weiss Ratings upgraded shares of MaxCyte from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. BTIG Research restated a “neutral” rating on shares of MaxCyte in a research note on Monday. Finally, Wall Street Zen raised MaxCyte from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.00.

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.