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

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

A number of other institutional investors and hedge funds have also modified their holdings of MXCT. Prudential Financial Inc. acquired a new position in MaxCyte in the second quarter valued at approximately $26,000. State of Wyoming bought a new position in shares of MaxCyte during the second quarter worth approximately $38,000. BNP Paribas Financial Markets boosted its position in MaxCyte by 266.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 26,008 shares of the company’s stock worth $57,000 after buying an additional 18,913 shares during the period. Jain Global LLC bought a new stake in shares of MaxCyte during the fourth quarter worth about $45,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of MaxCyte in the second quarter worth $44,000. Institutional investors and hedge funds own 68.81% of the company’s stock.

MaxCyte Price Performance

NASDAQ MXCT traded down $0.06 during mid-day trading on Friday, reaching $1.22. The stock had a trading volume of 563,088 shares, compared to its average volume of 1,086,256. The company has a fifty day moving average price of $1.23 and a 200 day moving average price of $1.01. MaxCyte, Inc. has a 1 year low of $0.64 and a 1 year high of $1.86. The stock has a market cap of $125.91 million, a PE ratio of -3.70 and a beta of 1.48.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on MXCT. BTIG Research reissued a “neutral” rating on shares of MaxCyte in a report on Monday. Weiss Ratings upgraded shares of MaxCyte from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded MaxCyte from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company 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.