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

MaxCyte, Inc. (NASDAQ:MXCT)’s stock price traded up 8.2% during mid-day trading on Monday . The stock traded as high as $4.76 and last traded at $4.76. 691,825 shares changed hands 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 Trading Up 3.9 %

The firm has a market capitalization of $509.53 million, a P/E ratio of -14.18 and a beta of 1.29. The firm has a 50 day moving average price of $3.94 and a 200-day moving average price of $4.03.

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, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $8.16 million during the quarter, compared to analyst estimates of $7.50 million. MaxCyte had a negative return on equity of 16.00% and a negative net margin of 78.36%. During the same period last year, the company earned ($0.11) EPS. Research analysts anticipate that MaxCyte, Inc. will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On MaxCyte

Institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC bought a new stake in shares of MaxCyte in the 3rd quarter valued at approximately $51,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of MaxCyte by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,212 shares of the company’s stock worth $79,000 after buying an additional 7,930 shares during the period. Verition Fund Management LLC raised its holdings in shares of MaxCyte by 39.5% in the third 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 period. Creative Planning raised its holdings in shares of MaxCyte by 33.6% in the third quarter. Creative Planning now owns 28,652 shares of the company’s stock worth $111,000 after buying an additional 7,212 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of MaxCyte by 84.5% in the third quarter. SG Americas Securities LLC now owns 37,969 shares of the company’s stock worth $148,000 after buying an additional 17,385 shares during the period. 68.81% of the stock is owned by institutional investors.

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.