John Joseph Johnston Sells 10,000 Shares of MaxCyte, Inc. (NASDAQ:MXCT) Stock

MaxCyte, Inc. (NASDAQ:MXCT) Director John Joseph Johnston sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $3.99, for a total value of $39,900.00. Following the sale, the director now owns 141,950 shares of the company’s stock, valued at approximately $566,380.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

MaxCyte Stock Down 2.9 %

Shares of MXCT opened at $3.72 on Wednesday. The business’s 50 day moving average is $4.38 and its two-hundred day moving average is $4.51. MaxCyte, Inc. has a 52-week low of $2.45 and a 52-week high of $5.55. The firm has a market cap of $388.37 million, a price-to-earnings ratio of -10.94 and a beta of 1.41.

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

Hedge Funds Weigh In On MaxCyte

A number of institutional investors have recently made changes to their positions in MXCT. Cadian Capital Management LP acquired a new position in shares of MaxCyte in the 4th quarter valued at approximately $26,531,000. Swedbank AB acquired a new position in shares of MaxCyte in the 1st quarter valued at approximately $6,704,000. Chevy Chase Trust Holdings LLC increased its holdings in shares of MaxCyte by 2,182.6% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 1,296,397 shares of the company’s stock valued at $5,432,000 after acquiring an additional 1,239,602 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of MaxCyte by 29.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,537,114 shares of the company’s stock valued at $11,924,000 after acquiring an additional 584,372 shares during the last quarter. Finally, Willis Investment Counsel bought a new stake in shares of MaxCyte in the 4th quarter valued at approximately $2,585,000. 68.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.