Allspring Global Investments Holdings LLC Sells 35,862 Shares of MaxCyte, Inc. (NASDAQ:MXCT)

Allspring Global Investments Holdings LLC decreased its stake in MaxCyte, Inc. (NASDAQ:MXCT) by 11.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,552 shares of the company’s stock after selling 35,862 shares during the period. Allspring Global Investments Holdings LLC owned 0.28% of MaxCyte worth $1,366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MXCT. SG Americas Securities LLC bought a new position in MaxCyte in the third quarter valued at approximately $118,000. Chevy Chase Trust Holdings LLC boosted its holdings in shares of MaxCyte by 18.7% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 56,252 shares of the company’s stock valued at $176,000 after buying an additional 8,871 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of MaxCyte by 140.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,205 shares of the company’s stock valued at $72,000 after buying an additional 13,574 shares in the last quarter. M&T Bank Corp increased its holdings in MaxCyte by 3.4% during the third quarter. M&T Bank Corp now owns 163,513 shares of the company’s stock worth $510,000 after buying an additional 5,443 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in MaxCyte in the third quarter valued at $31,000. Institutional investors and hedge funds own 68.81% of the company’s stock.

Wall Street Analysts Forecast Growth

MXCT has been the topic of several recent analyst reports. Stephens restated an “overweight” rating and set a $11.00 price objective on shares of MaxCyte in a research note on Wednesday, March 13th. William Blair reaffirmed an “outperform” rating on shares of MaxCyte in a research report on Wednesday, March 13th. Finally, BTIG Research dropped their price target on MaxCyte from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th.

Insiders Place Their Bets

In other MaxCyte news, Director John Joseph Johnston sold 5,000 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $5.12, for a total transaction of $25,600.00. Following the transaction, the director now owns 120,583 shares in the company, valued at approximately $617,384.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.00% of the company’s stock.

MaxCyte Trading Up 0.3 %

Shares of NASDAQ MXCT opened at $3.96 on Tuesday. The firm has a market cap of $413.42 million, a P/E ratio of -10.70 and a beta of 1.34. The business’s 50 day moving average is $4.29 and its 200-day moving average is $4.32. MaxCyte, Inc. has a 1-year low of $2.45 and a 1-year high of $5.55.

MaxCyte (NASDAQ:MXCT) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05. MaxCyte had a negative return on equity of 15.90% and a negative net margin of 91.85%. The firm had revenue of $15.67 million for the quarter, compared to analysts’ expectations of $15.60 million. Analysts forecast that MaxCyte, Inc. will post -0.53 EPS for the current year.

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.