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 stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $3.99, for a total transaction of $39,900.00. Following the transaction, the director now directly owns 141,950 shares in the company, valued at $566,380.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

MaxCyte Price Performance

MXCT stock opened at $3.76 on Thursday. The company has a 50-day moving average of $4.38 and a two-hundred day moving average of $4.49. MaxCyte, Inc. has a 52-week low of $2.45 and a 52-week high of $5.55. The stock has a market capitalization of $394.12 million, a price-to-earnings ratio of -10.74 and a beta of 1.41.

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

Wall Street Analysts Forecast Growth

MXCT has been the topic of several analyst reports. BTIG Research lowered their target price on shares of MaxCyte from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Stephens restated an “overweight” rating and set a $11.00 price target on shares of MaxCyte in a report on Tuesday, April 23rd. Finally, William Blair restated an “outperform” rating on shares of MaxCyte in a report on Wednesday, March 13th.

Institutional Investors Weigh In On MaxCyte

Hedge funds have recently made changes to their positions in the stock. Cadian Capital Management LP bought a new stake in shares of MaxCyte in the fourth quarter valued at about $26,531,000. Mudita Advisors LLP lifted its stake in MaxCyte by 35.3% during the fourth quarter. Mudita Advisors LLP now owns 1,881,349 shares of the company’s stock worth $8,842,000 after purchasing an additional 490,491 shares during the period. Willis Investment Counsel bought a new position in MaxCyte during the fourth quarter worth about $2,585,000. Victory Capital Management Inc. lifted its stake in MaxCyte by 23.0% during the fourth quarter. Victory Capital Management Inc. now owns 12,316 shares of the company’s stock worth $58,000 after purchasing an additional 2,306 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in MaxCyte by 350.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,986 shares of the company’s stock worth $56,000 after purchasing an additional 9,323 shares during the period. 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.