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

MaxCyte, Inc. (NASDAQ:MXCT) saw a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 3,881,689 shares, an increase of 55.1% from the January 15th total of 2,503,062 shares. Approximately 3.8% of the shares of the stock are short sold. Based on an average trading volume of 1,116,399 shares, the short-interest ratio is presently 3.5 days. Based on an average trading volume of 1,116,399 shares, the short-interest ratio is presently 3.5 days. Approximately 3.8% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

MXCT has been the subject of several research reports. Wall Street Zen upgraded MaxCyte from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of MaxCyte in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.00.

Hedge Funds Weigh In On MaxCyte

Hedge funds have recently made changes to their positions in the stock. Mirabella Financial Services LLP boosted its holdings in MaxCyte by 24.2% in the third quarter. Mirabella Financial Services LLP now owns 8,200,000 shares of the company’s stock valued at $12,956,000 after acquiring an additional 1,600,000 shares during the last quarter. State Street Corp raised its holdings in MaxCyte by 4.0% in the fourth quarter. State Street Corp now owns 2,358,384 shares of the company’s stock valued at $3,655,000 after buying an additional 91,534 shares during the period. AXA S.A. lifted its position in MaxCyte by 123.2% during the second quarter. AXA S.A. now owns 2,202,378 shares of the company’s stock valued at $4,801,000 after buying an additional 1,215,481 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in MaxCyte during the third quarter valued at approximately $3,330,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in MaxCyte during the fourth quarter worth approximately $1,594,000. Institutional investors and hedge funds own 68.81% of the company’s stock.

MaxCyte Price Performance

NASDAQ:MXCT traded down $0.01 during mid-day trading on Friday, reaching $0.72. The company’s stock had a trading volume of 1,262,423 shares, compared to its average volume of 1,382,774. The company’s fifty day simple moving average is $1.28 and its two-hundred day simple moving average is $1.48. MaxCyte has a twelve month low of $0.68 and a twelve month high of $4.32. The stock has a market cap of $76.76 million, a P/E ratio of -1.64 and a beta of 1.21.

MaxCyte (NASDAQ:MXCT) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). MaxCyte had a negative net margin of 132.57% and a negative return on equity of 23.50%. The company had revenue of $6.41 million for the quarter, compared to analyst estimates of $8.37 million. Sell-side analysts expect that MaxCyte will post -0.42 EPS for the current fiscal year.

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.