MaxCyte (NASDAQ:MXCT) Sees Strong Trading Volume

MaxCyte, Inc. (NASDAQ:MXCT) saw strong trading volume on Wednesday . 1,361,421 shares were traded during 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.

Analyst Ratings Changes

MXCT has been the topic of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of MaxCyte in a report on Wednesday, March 13th. Stephens restated an “overweight” rating and set a $11.00 target price on shares of MaxCyte in a research note on Tuesday, April 23rd. Finally, BTIG Research decreased their price target on MaxCyte from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th.

MaxCyte Stock Performance

The stock’s 50 day simple moving average is $4.10 and its 200-day simple moving average is $4.37. The firm has a market cap of $494.49 million, a price-to-earnings ratio of -12.78 and a beta of 1.36.

MaxCyte (NASDAQ:MXCT) last released its earnings results on Tuesday, March 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $15.67 million for the quarter, compared to the consensus estimate of $15.60 million. On average, analysts expect that MaxCyte, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Blair William & Co. IL increased its holdings in MaxCyte by 7.3% in the 1st quarter. Blair William & Co. IL now owns 273,064 shares of the company’s stock worth $1,144,000 after buying an additional 18,501 shares during the period. US Bancorp DE increased its stake in shares of MaxCyte by 960.0% in the first quarter. US Bancorp DE now owns 95,852 shares of the company’s stock worth $402,000 after acquiring an additional 86,809 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of MaxCyte during the first quarter worth $28,000. River Global Investors LLP raised its holdings in shares of MaxCyte by 24.4% during the first quarter. River Global Investors LLP now owns 1,888,642 shares of the company’s stock worth $7,973,000 after purchasing an additional 369,996 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its position in MaxCyte by 2,182.6% during the first quarter. Chevy Chase Trust Holdings LLC now owns 1,296,397 shares of the company’s stock valued at $5,432,000 after purchasing an additional 1,239,602 shares during the period. 68.81% of the stock is currently owned by hedge funds and other institutional investors.

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.