Short Interest in MaxCyte, Inc. (NASDAQ:MXCT) Drops By 64.3%

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

Analyst Ratings Changes

A number of research analysts have issued reports on MXCT shares. Weiss Ratings lowered shares of MaxCyte from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Craig Hallum cut 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, Wall Street Zen upgraded MaxCyte from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mirabella Financial Services LLP boosted its stake in MaxCyte by 24.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 8,200,000 shares of the company’s stock valued at $12,956,000 after purchasing an additional 1,600,000 shares in the last quarter. Capricorn Fund Managers Ltd bought a new stake in shares of MaxCyte in the 1st quarter worth $5,760,000. Bank of America Corp DE raised its stake in shares of MaxCyte by 30.1% in the 1st quarter. Bank of America Corp DE now owns 127,258 shares of the company’s stock worth $89,000 after buying an additional 29,457 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of MaxCyte by 153.3% in the first quarter. Renaissance Technologies LLC now owns 1,993,200 shares of the company’s stock valued at $1,400,000 after buying an additional 1,206,300 shares during the period. Finally, Brooklands Fund Management Ltd acquired a new stake in shares of MaxCyte in the first quarter valued at $1,538,000. 68.81% of the stock is currently owned by institutional investors.

MaxCyte Price Performance

Shares of MXCT remained flat at $1.42 during trading hours on Wednesday. The stock had a trading volume of 1,330,742 shares, compared to its average volume of 1,151,435. MaxCyte has a 52 week low of $0.64 and a 52 week high of $2.37. The stock has a fifty day simple moving average of $1.14 and a two-hundred day simple moving average of $1.02. The company has a market cap of $152.11 million, a price-to-earnings ratio of -3.84 and a beta of 1.47.

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

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.