MaxCyte (NASDAQ:MXCT) Stock Price Up 8.2% – Here’s Why

MaxCyte, Inc. (NASDAQ:MXCT)’s stock price rose 8.2% during mid-day trading on Monday . The stock traded as high as $4.76 and last traded at $4.76. Approximately 691,825 shares changed hands during trading, an increase of 26% from the average daily volume of 550,404 shares. The stock had previously closed at $4.40.

MaxCyte Price Performance

The firm has a 50-day moving average of $3.94 and a 200-day moving average of $4.03. The stock has a market cap of $509.53 million, a PE ratio of -14.18 and a beta of 1.29.

MaxCyte (NASDAQ:MXCT) last released its earnings results on Wednesday, November 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. MaxCyte had a negative return on equity of 16.00% and a negative net margin of 78.36%. The firm had revenue of $8.16 million during the quarter, compared to analysts’ expectations of $7.50 million. During the same quarter last year, the business posted ($0.11) earnings per share. Equities analysts forecast that MaxCyte, Inc. will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On MaxCyte

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MXCT. Intech Investment Management LLC bought a new position in MaxCyte during the third quarter valued at approximately $51,000. China Universal Asset Management Co. Ltd. boosted its stake in MaxCyte by 64.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 20,212 shares of the company’s stock valued at $79,000 after buying an additional 7,930 shares during the last quarter. Verition Fund Management LLC boosted its stake in MaxCyte by 39.5% during the third quarter. Verition Fund Management LLC now owns 21,335 shares of the company’s stock valued at $83,000 after buying an additional 6,045 shares during the last quarter. Creative Planning boosted its stake in MaxCyte by 33.6% during the third quarter. Creative Planning now owns 28,652 shares of the company’s stock valued at $111,000 after buying an additional 7,212 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in MaxCyte by 84.5% during the third quarter. SG Americas Securities LLC now owns 37,969 shares of the company’s stock valued at $148,000 after buying an additional 17,385 shares during the last quarter. 68.81% of the stock is owned by institutional investors.

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.