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

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

MaxCyte Stock Performance

The firm has a market cap of $519.04 million, a price-to-earnings ratio of -14.44 and a beta of 1.29. The company has a 50 day moving average price of $3.90 and a 200 day moving average price of $4.01.

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

Hedge Funds Weigh In On MaxCyte

Institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. purchased a new stake in MaxCyte during the 3rd quarter worth approximately $260,000. Barclays PLC boosted its holdings in MaxCyte by 329.3% in the third quarter. Barclays PLC now owns 165,765 shares of the company’s stock valued at $645,000 after purchasing an additional 127,156 shares during the period. Geode Capital Management LLC grew its stake in MaxCyte by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,474,632 shares of the company’s stock worth $9,628,000 after purchasing an additional 47,960 shares in the last quarter. M&T Bank Corp grew its stake in MaxCyte by 29.1% during the 3rd quarter. M&T Bank Corp now owns 113,778 shares of the company’s stock worth $443,000 after purchasing an additional 25,644 shares in the last quarter. Finally, State Street Corp raised its position in MaxCyte by 5.1% in the 3rd quarter. State Street Corp now owns 2,269,135 shares of the company’s stock valued at $8,827,000 after purchasing an additional 111,066 shares in the last quarter. 68.81% of the stock is owned by institutional investors and hedge funds.

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.