Fred Alger Management LLC Reduces Stock Holdings in MaxCyte, Inc. (NASDAQ:MXCT)

Fred Alger Management LLC lessened its stake in shares of MaxCyte, Inc. (NASDAQ:MXCT) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 389,618 shares of the company’s stock after selling 4,154 shares during the quarter. Fred Alger Management LLC owned about 0.37% of MaxCyte worth $1,516,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted 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. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MaxCyte by 22.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,735 shares of the company’s stock valued at $128,000 after purchasing an additional 5,927 shares during the period. Verition Fund Management LLC grew its stake in MaxCyte by 39.5% during the 3rd quarter. Verition Fund Management LLC now owns 21,335 shares of the company’s stock worth $83,000 after buying an additional 6,045 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in MaxCyte during the first quarter worth approximately $28,000. Finally, Creative Planning lifted its stake in MaxCyte by 33.6% in 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. Institutional investors and hedge funds own 68.81% of the company’s stock.

Insider Activity at MaxCyte

In related news, Director Stanley C. Erck sold 29,767 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $3.97, for a total transaction of $118,174.99. Following the completion of the sale, the director now directly owns 269,118 shares of the company’s stock, valued at $1,068,398.46. This trade represents a 9.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 57,374 shares of company stock worth $220,957 in the last quarter. Company insiders own 3.00% of the company’s stock.

MaxCyte Trading Up 0.9 %

Shares of MXCT opened at $3.55 on Monday. The company’s 50 day simple moving average is $3.67 and its 200-day simple moving average is $4.11. The firm has a market cap of $374.45 million, a PE ratio of -10.44 and a beta of 1.40. MaxCyte, Inc. has a 12-month low of $3.16 and a 12-month high of $5.55.

MaxCyte (NASDAQ:MXCT) last issued its quarterly earnings data 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 net margin of 78.36% and a negative return on equity of 16.00%. The company had revenue of $8.16 million for the quarter, compared to the consensus estimate of $7.50 million. During the same period last year, the firm posted ($0.11) EPS. As a group, equities research analysts forecast that MaxCyte, Inc. will post -0.43 EPS for the current fiscal year.

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.