MaxCyte (NASDAQ:MXCT) Shares Up 8.2% - Here's Why

MaxCyte, Inc. (NASDAQ:MXCT - Get Free Report) traded up 8.2% during trading on Monday . The stock traded as high as $4.76 and last traded at $4.76. 691,825 shares traded hands during trading, an increase of 26% from the average session volume of 550,404 shares. The stock had previously closed at $4.40.

MaxCyte Price Performance

The company's fifty day simple moving average is $3.90 and its 200-day simple moving average is $4.01. The firm has a market capitalization of $519.04 million, a PE ratio of -14.44 and a beta of 1.29.

MaxCyte (NASDAQ:MXCT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.11) earnings per share for the quarter, beating 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) earnings per share. As a group, equities research analysts anticipate that MaxCyte, Inc. will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MaxCyte

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. acquired a new stake in MaxCyte in the 3rd quarter valued at about $260,000. Barclays PLC increased its holdings in shares of MaxCyte by 329.3% in the third quarter. Barclays PLC now owns 165,765 shares of the company's stock valued at $645,000 after purchasing an additional 127,156 shares during the last quarter. Geode Capital Management LLC lifted its position in MaxCyte by 2.0% during the third quarter. Geode Capital Management LLC now owns 2,474,632 shares of the company's stock worth $9,628,000 after buying an additional 47,960 shares in the last quarter. M&T Bank Corp lifted its position in MaxCyte by 29.1% during the third quarter. M&T Bank Corp now owns 113,778 shares of the company's stock worth $443,000 after buying an additional 25,644 shares in the last quarter. Finally, State Street Corp boosted its stake in MaxCyte by 5.1% during the third quarter. State Street Corp now owns 2,269,135 shares of the company's stock worth $8,827,000 after buying an additional 111,066 shares during the last quarter. Hedge funds and other institutional investors own 68.81% 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.

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