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MaxCyte (NASDAQ:MXCT) Shares Up 5.8%

Defense World · Sep 22, 2022 05:31

MaxCyte, Inc. (NASDAQ:MXCT – Get Rating)'s stock price shot up 5.8% on Tuesday . The stock traded as high as $6.05 and last traded at $6.03. 4,183 shares were traded during mid-day trading, a decline of 99% from the average session volume of 580,017 shares. The stock had previously closed at $5.70.

Analyst Ratings Changes

Separately, BTIG Research lifted their price objective on shares of MaxCyte from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Sunday, August 14th.

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MaxCyte Stock Performance

The firm has a market cap of $621.33 million, a price-to-earnings ratio of -30.50 and a beta of 1.17. The stock's 50 day simple moving average is $5.60.

Insider Buying and Selling at MaxCyte

In other MaxCyte news, major shareholder Casdin Partners Master Fund, L sold 3,235,548 shares of the business's stock in a transaction on Friday, July 1st. The shares were sold at an average price of $4.30, for a total transaction of $13,912,856.40. Following the completion of the sale, the insider now owns 10,735,786 shares in the company, valued at approximately $46,163,879.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.11% of the stock is currently owned by company insiders.

Institutional Trading of MaxCyte

Institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of MaxCyte in the 2nd quarter worth $27,000. Freemont Management S.A. purchased a new stake in MaxCyte during the first quarter valued at about $68,000. Nkcfo LLC purchased a new stake in MaxCyte during the first quarter valued at about $91,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in MaxCyte during the second quarter valued at about $76,000. Finally, PDT Partners LLC purchased a new stake in MaxCyte during the second quarter valued at about $76,000. Institutional investors own 66.40% of the company's stock.

MaxCyte Company Profile

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MaxCyte, Inc, a global life sciences company, engages in the discovery, development, and commercialization of next-generation cell therapies. 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.