MaxCyte (NASDAQ:MXCT) Trading Down 5.8% – Here’s What Happened

MaxCyte, Inc. (NASDAQ:MXCT)’s stock price fell 5.8% during mid-day trading on Thursday . The stock traded as low as $4.67 and last traded at $4.77. 497,769 shares were traded during trading, a decline of 24% from the average session volume of 657,849 shares. The stock had previously closed at $5.06.

MaxCyte Trading Down 2.1 %

The firm has a fifty day simple moving average of $4.15 and a 200-day simple moving average of $4.08. The stock has a market cap of $492.61 million, a price-to-earnings ratio of -13.71 and a beta of 1.29.

MaxCyte (NASDAQ:MXCT) last posted 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 return on equity of 16.00% and a negative net margin of 78.36%. The firm had revenue of $8.16 million for the quarter, compared to the consensus estimate of $7.50 million. During the same quarter in the prior year, the business earned ($0.11) EPS. On average, equities analysts predict that MaxCyte, Inc. will post -0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. American Century Companies Inc. raised its position in shares of MaxCyte by 10.7% during the 2nd quarter. American Century Companies Inc. now owns 144,110 shares of the company’s stock valued at $565,000 after acquiring an additional 13,904 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of MaxCyte by 13.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,010,292 shares of the company’s stock valued at $3,961,000 after acquiring an additional 121,090 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of MaxCyte by 29.7% during the 2nd quarter. Renaissance Technologies LLC now owns 210,914 shares of the company’s stock valued at $827,000 after acquiring an additional 48,314 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of MaxCyte during the 2nd quarter valued at $1,959,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of MaxCyte by 25.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,289 shares of the company’s stock valued at $166,000 after acquiring an additional 8,454 shares during the last quarter. Institutional investors and hedge funds own 68.81% of the company’s stock.

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.