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

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

MaxCyte Price Performance

The stock has a market capitalization of $503.18 million, a P/E ratio of -14.00 and a beta of 1.29. The company’s 50 day simple moving average is $4.10 and its two-hundred day simple moving average is $4.07.

MaxCyte (NASDAQ:MXCT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $8.16 million for the quarter, compared to analyst estimates of $7.50 million. During the same period in the prior year, the company earned ($0.11) EPS. On average, research analysts anticipate that MaxCyte, Inc. will post -0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Verition Fund Management LLC raised its position in shares of 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 lifted its position in MaxCyte by 33.6% during the 3rd 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. China Universal Asset Management Co. Ltd. boosted its stake in shares of MaxCyte by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,212 shares of the company’s stock valued at $79,000 after purchasing an additional 7,930 shares during the last quarter. The Manufacturers Life Insurance Company grew 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 worth $166,000 after buying an additional 8,454 shares during the period. Finally, Chevy Chase Trust Holdings LLC raised its stake in shares of MaxCyte by 0.7% during the third quarter. Chevy Chase Trust Holdings LLC now owns 1,332,048 shares of the company’s stock worth $5,182,000 after buying an additional 9,488 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.