MaxCyte, Inc. (NASDAQ:MXCT – Get Rating)'s stock price traded down 9.3% during trading on Friday . The stock traded as low as $5.50 and last traded at $5.56. 3,514 shares were traded during trading, a decline of 99% from the average session volume of 658,173 shares. The stock had previously closed at $6.13.
Wall Street Analysts Forecast Growth
Separately, BTIG Research increased their price objective on shares of MaxCyte from $10.00 to $11.00 and gave the company a "buy" rating in a report on Sunday, August 14th.
Get MaxCyte alerts:MaxCyte Stock Down 5.9 %
The company has a 50-day simple moving average of $5.62.
Insider Transactions at MaxCyte
In other news, major shareholder Casdin Partners Master Fund, L sold 3,235,548 shares of the firm's stock in a transaction on Friday, July 1st. The stock was sold at an average price of $4.30, for a total value of $13,912,856.40. Following the transaction, the insider now directly owns 10,735,786 shares in the company, valued at approximately $46,163,879.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.11% of the stock is owned by corporate insiders.Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MXCT. Quantbot Technologies LP acquired a new stake in shares of MaxCyte in the 2nd quarter valued at about $27,000. Freemont Management S.A. acquired a new stake in shares of MaxCyte in the 1st quarter valued at about $68,000. Nkcfo LLC acquired a new stake in shares of MaxCyte in the 1st quarter valued at about $91,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of MaxCyte in the 2nd quarter valued at about $76,000. Finally, PDT Partners LLC acquired a new stake in shares of MaxCyte in the 2nd quarter valued at about $76,000. 66.40% of the stock is currently owned by institutional investors.
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.
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