Fred Alger Management LLC Sells 5,390 Shares of MaxCyte, Inc. (NASDAQ:MXCT)

Fred Alger Management LLC lessened its holdings in MaxCyte, Inc. (NASDAQ:MXCT) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 393,772 shares of the company’s stock after selling 5,390 shares during the period. Fred Alger Management LLC owned about 0.38% of MaxCyte worth $1,544,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. bought a new position in MaxCyte in the fourth quarter valued at about $29,000. Russell Investments Group Ltd. bought a new position in MaxCyte in the first quarter valued at about $28,000. China Universal Asset Management Co. Ltd. grew its position in MaxCyte by 65.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 19,884 shares of the company’s stock valued at $83,000 after acquiring an additional 7,898 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in MaxCyte by 20.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,199 shares of the company’s stock valued at $106,000 after acquiring an additional 4,320 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in MaxCyte by 22.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,735 shares of the company’s stock valued at $128,000 after acquiring an additional 5,927 shares during the last quarter. Institutional investors own 68.81% of the company’s stock.

MaxCyte Stock Down 0.5 %

MaxCyte stock opened at $3.87 on Friday. MaxCyte, Inc. has a 12-month low of $2.45 and a 12-month high of $5.55. The business’s 50-day moving average price is $4.20 and its two-hundred day moving average price is $4.26. The stock has a market cap of $405.67 million, a PE ratio of -11.06 and a beta of 1.40.

MaxCyte (NASDAQ:MXCT) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. The company had revenue of $10.43 million for the quarter, compared to analysts’ expectations of $8.20 million. MaxCyte had a negative return on equity of 15.52% and a negative net margin of 77.97%. During the same period in the previous year, the business posted ($0.10) earnings per share. As a group, analysts expect that MaxCyte, Inc. will post -0.44 earnings per share for the current year.

Insider Transactions at MaxCyte

In other news, EVP Thomas M. Ross sold 15,476 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $4.54, for a total transaction of $70,261.04. Following the sale, the executive vice president now directly owns 25,000 shares in the company, valued at $113,500. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Thomas M. Ross sold 15,476 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $4.54, for a total transaction of $70,261.04. Following the sale, the executive vice president now directly owns 25,000 shares in the company, valued at $113,500. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thomas M. Ross sold 13,531 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $4.03, for a total value of $54,529.93. Following the sale, the executive vice president now owns 25,000 shares in the company, valued at $100,750. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,774 shares of company stock worth $270,056. Insiders own 3.00% 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.