MaxCyte, Inc. (NASDAQ:MXCT) Short Interest Down 64.3% in June

MaxCyte, Inc. (NASDAQ:MXCT) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 1,515,592 shares, a decrease of 64.3% from the June 15th total of 4,239,514 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 2,364,915 shares, the short-interest ratio is presently 0.6 days.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen upgraded MaxCyte from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Craig Hallum reduced their price target on MaxCyte from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Finally, Weiss Ratings raised MaxCyte from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.50.

MaxCyte Price Performance

MXCT stock opened at $1.33 on Monday. MaxCyte has a 12 month low of $0.64 and a 12 month high of $2.37. The firm’s 50-day moving average is $1.12 and its 200 day moving average is $1.02. The company has a market capitalization of $142.47 million, a PE ratio of -3.59 and a beta of 1.47.

MaxCyte (NASDAQ:MXCT) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.06. The company had revenue of $6.22 million during the quarter, compared to analysts’ expectations of $7.28 million. MaxCyte had a negative net margin of 121.16% and a negative return on equity of 20.03%. Sell-side analysts forecast that MaxCyte will post -0.29 EPS for the current fiscal year.

Institutional Trading of MaxCyte

A number of large investors have recently modified their holdings of MXCT. BNP Paribas Financial Markets grew its stake in MaxCyte by 39.5% in the third quarter. BNP Paribas Financial Markets now owns 36,271 shares of the company’s stock worth $57,000 after purchasing an additional 10,263 shares in the last quarter. Prudential Financial Inc. bought a new stake in MaxCyte during the 2nd quarter valued at $26,000. State of Wyoming bought a new stake in MaxCyte during the 2nd quarter valued at $38,000. American Century Companies Inc. lifted its holdings in shares of MaxCyte by 10.6% in the 2nd quarter. American Century Companies Inc. now owns 196,686 shares of the company’s stock worth $429,000 after buying an additional 18,848 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of MaxCyte by 98.1% in the 4th quarter. SG Americas Securities LLC now owns 49,402 shares of the company’s stock worth $77,000 after buying an additional 24,467 shares during the period. Hedge funds and other institutional investors own 68.81% of the company’s stock.

MaxCyte Company Profile

MaxCyte, Inc (NASDAQ: MXCT) is a clinical‐stage cell therapy platform company that develops and commercializes proprietary flow electroporation technology for the delivery of macromolecules into living cells. The company’s instruments and consumables are designed to support research, preclinical development and clinical‐scale manufacturing of cell therapies across a variety of modalities, including engineered T cells, natural killer (NK) cells and induced pluripotent stem cell (iPSC) therapies.