M&T Bank Corp Acquires 25,644 Shares of MaxCyte, Inc. (NASDAQ:MXCT)

M&T Bank Corp boosted its holdings in shares of MaxCyte, Inc. (NASDAQ:MXCT) by 29.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,778 shares of the company’s stock after purchasing an additional 25,644 shares during the quarter. M&T Bank Corp owned about 0.11% of MaxCyte worth $443,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MXCT. Intech Investment Management LLC bought a new stake in shares of MaxCyte in the 3rd quarter worth about $51,000. China Universal Asset Management Co. Ltd. grew its position in 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 acquiring an additional 7,930 shares in the last quarter. Verition Fund Management LLC increased its stake in MaxCyte by 39.5% during the third quarter. Verition Fund Management LLC now owns 21,335 shares of the company’s stock worth $83,000 after acquiring an additional 6,045 shares during the last quarter. Creative Planning raised its position in MaxCyte by 33.6% during the third quarter. Creative Planning now owns 28,652 shares of the company’s stock valued at $111,000 after purchasing an additional 7,212 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in MaxCyte by 22.1% during the second 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. Institutional investors own 68.81% of the company’s stock.

MaxCyte Stock Performance

Shares of MaxCyte stock opened at $4.27 on Wednesday. The stock has a market cap of $451.30 million, a price-to-earnings ratio of -12.56 and a beta of 1.37. The stock has a 50 day moving average price of $3.72 and a 200-day moving average price of $4.05. MaxCyte, Inc. has a one year low of $3.16 and a one year high of $5.55.

MaxCyte (NASDAQ:MXCT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.11) 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 during the quarter, compared to analyst estimates of $7.50 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. Sell-side analysts predict that MaxCyte, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Stanley C. Erck sold 21,607 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $3.71, for a total transaction of $80,161.97. Following the completion of the sale, the director now directly owns 269,118 shares of the company’s stock, valued at approximately $998,427.78. This trade represents a 7.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 27,607 shares of company stock valued at $102,782. Company insiders own 3.00% 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.