MaxCyte (NASDAQ:MXCT) Sees Strong Trading Volume on Insider Buying Activity

MaxCyte, Inc. (NASDAQ:MXCT) saw an uptick in trading volume on Tuesday following insider buying activity. 303,182 shares changed hands during trading, a decline of 48% from the previous session’s volume of 579,646 shares.The stock last traded at $5.17 and had previously closed at $4.96.

Specifically, CEO Maher Masoud acquired 70,443 shares of MaxCyte stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $4.90 per share, with a total value of $345,170.70. Following the purchase, the chief executive officer now owns 100,000 shares in the company, valued at $490,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MXCT. Stephens restated an “overweight” rating and set a $11.00 price target on shares of MaxCyte in a report on Tuesday, April 23rd. BTIG Research dropped their price target on shares of MaxCyte from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Finally, William Blair restated an “outperform” rating on shares of MaxCyte in a research note on Wednesday, March 13th.

MaxCyte Price Performance

The business has a 50 day simple moving average of $4.28 and a 200 day simple moving average of $4.56. The stock has a market cap of $539.75 million, a PE ratio of -14.17 and a beta of 1.45.

MaxCyte (NASDAQ:MXCT) last issued its earnings results on Tuesday, May 7th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.05. The firm had revenue of $11.34 million for the quarter, compared to the consensus estimate of $7.75 million. MaxCyte had a negative return on equity of 15.68% and a negative net margin of 83.00%. As a group, sell-side analysts forecast that MaxCyte, Inc. will post -0.5 earnings per share for the current fiscal year.

Institutional Trading of MaxCyte

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. bought a new stake in shares of MaxCyte during the 4th quarter worth about $29,000. Russell Investments Group Ltd. bought a new stake in shares of MaxCyte during the 1st quarter worth about $28,000. Victory Capital Management Inc. acquired a new position in shares of MaxCyte during the 3rd quarter worth about $31,000. Johnson Investment Counsel Inc. acquired a new position in shares of MaxCyte during the 3rd quarter worth about $34,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of MaxCyte by 47,100.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,800 shares of the company’s stock worth $55,000 after purchasing an additional 11,775 shares during the last quarter. Institutional investors own 68.81% of the company’s stock.

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.