MaxCyte, Inc. $MXCT Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its stake in MaxCyte, Inc. (NASDAQ:MXCT) by 22.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,723,239 shares of the company’s stock after selling 506,943 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 1.62% of MaxCyte worth $3,757,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Mudita Advisors LLP increased its holdings in MaxCyte by 3.3% in the 1st quarter. Mudita Advisors LLP now owns 3,328,441 shares of the company’s stock valued at $9,087,000 after purchasing an additional 105,034 shares in the last quarter. Gagnon Securities LLC increased its holdings in MaxCyte by 431.3% in the 1st quarter. Gagnon Securities LLC now owns 1,048,318 shares of the company’s stock valued at $2,862,000 after purchasing an additional 850,992 shares in the last quarter. Royce & Associates LP increased its holdings in MaxCyte by 30.1% in the 1st quarter. Royce & Associates LP now owns 1,040,873 shares of the company’s stock valued at $2,842,000 after purchasing an additional 241,000 shares in the last quarter. Gagnon Advisors LLC acquired a new stake in MaxCyte in the 1st quarter valued at $2,550,000. Finally, Rice Hall James & Associates LLC increased its holdings in MaxCyte by 72.2% in the 1st quarter. Rice Hall James & Associates LLC now owns 454,365 shares of the company’s stock valued at $1,240,000 after purchasing an additional 190,532 shares in the last quarter. 68.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Douglas J. Swirsky purchased 50,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were bought at an average price of $1.29 per share, for a total transaction of $64,500.00. Following the completion of the purchase, the chief financial officer owned 161,811 shares of the company’s stock, valued at $208,736.19. This trade represents a 44.72% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stanley C. Erck purchased 100,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $1.37 per share, for a total transaction of $137,000.00. Following the purchase, the director directly owned 398,328 shares of the company’s stock, valued at $545,709.36. This trade represents a 33.52% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 355,000 shares of company stock valued at $479,950 in the last ninety days. Insiders own 3.30% of the company’s stock.

MaxCyte Stock Performance

NASDAQ:MXCT opened at $1.75 on Tuesday. The stock has a 50-day simple moving average of $1.51 and a 200 day simple moving average of $2.02. MaxCyte, Inc. has a one year low of $1.26 and a one year high of $5.20. The company has a market capitalization of $186.56 million, a price-to-earnings ratio of -4.07 and a beta of 1.23.

MaxCyte (NASDAQ:MXCT) last issued its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). MaxCyte had a negative return on equity of 22.12% and a negative net margin of 125.22%.The business had revenue of $8.51 million during the quarter, compared to the consensus estimate of $9.57 million. On average, equities research analysts forecast that MaxCyte, Inc. will post -0.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen downgraded MaxCyte from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Stephens began coverage on shares of MaxCyte in a research report on Tuesday, July 22nd. They issued an “overweight” rating and a $6.00 price objective for the company. BTIG Research reissued a “neutral” rating on shares of MaxCyte in a research report on Monday, August 11th. William Blair cut shares of MaxCyte from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MaxCyte in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.00.

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.