MaxCyte (NASDAQ:MXCT) Sees Large Volume Increase

Shares of MaxCyte, Inc. (NASDAQ:MXCT) saw unusually-strong trading volume on Wednesday . Approximately 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MXCT shares. 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. William Blair restated an “outperform” rating on shares of MaxCyte in a report on Wednesday, March 13th. Finally, Stephens reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of MaxCyte in a research note on Tuesday, April 23rd.

MaxCyte Stock Up 19.1 %

The stock has a market capitalization of $489.27 million, a price-to-earnings ratio of -12.51 and a beta of 1.36. The company has a 50 day simple moving average of $4.10 and a 200-day simple moving average of $4.37.

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 analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $15.67 million for the quarter, compared to the consensus estimate of $15.60 million. MaxCyte had a negative net margin of 91.85% and a negative return on equity of 15.90%. As a group, sell-side analysts anticipate that MaxCyte, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its position in shares of MaxCyte by 960.0% during the first quarter. US Bancorp DE now owns 95,852 shares of the company’s stock worth $402,000 after purchasing an additional 86,809 shares during the period. Russell Investments Group Ltd. acquired a new position in MaxCyte during the first quarter worth $28,000. River Global Investors LLP lifted its stake in shares of MaxCyte by 24.4% in the first quarter. River Global Investors LLP now owns 1,888,642 shares of the company’s stock valued at $7,973,000 after buying an additional 369,996 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in shares of 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 buying an additional 1,239,602 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of MaxCyte during the first quarter worth about $174,000. 68.81% of the stock is owned by institutional investors and hedge funds.

MaxCyte Company Profile

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.