Short Interest in MaxCyte, Inc. (NASDAQ:MXCT) Drops By 64.3%

MaxCyte, Inc. (NASDAQ:MXCT) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 1,515,592 shares, a drop of 64.3% from the June 15th total of 4,239,514 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average trading volume of 2,364,915 shares, the short-interest ratio is currently 0.6 days.

Wall Street Analyst Weigh In

Several brokerages have commented on MXCT. Wall Street Zen upgraded shares of MaxCyte from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Craig Hallum cut their price objective on MaxCyte from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, Weiss Ratings raised MaxCyte from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.50.

Hedge Funds Weigh In On MaxCyte

A number of institutional investors and hedge funds have recently modified their holdings of MXCT. Prudential Financial Inc. purchased a new stake in MaxCyte during the 2nd quarter valued at $26,000. State of Wyoming purchased a new position in MaxCyte during the second quarter worth $38,000. Jain Global LLC purchased a new position in MaxCyte during the fourth quarter worth $45,000. BNP Paribas Financial Markets increased its position in MaxCyte by 39.5% during the third quarter. BNP Paribas Financial Markets now owns 36,271 shares of the company’s stock valued at $57,000 after acquiring an additional 10,263 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in MaxCyte during the fourth quarter valued at $67,000. Hedge funds and other institutional investors own 68.81% of the company’s stock.

MaxCyte Price Performance

MaxCyte stock opened at $1.33 on Monday. The company’s 50-day moving average price is $1.12 and its 200-day moving average price is $1.02. The company has a market cap of $142.47 million, a PE ratio of -3.59 and a beta of 1.47. MaxCyte has a twelve month low of $0.64 and a twelve month high of $2.37.

MaxCyte (NASDAQ:MXCT) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.06. MaxCyte had a negative return on equity of 20.03% and a negative net margin of 121.16%.The company had revenue of $6.22 million during the quarter, compared to analyst estimates of $7.28 million. As a group, sell-side analysts expect that MaxCyte will post -0.29 earnings per share for the current fiscal year.

About MaxCyte

MaxCyte, Inc (NASDAQ: MXCT) is a clinical‐stage cell therapy platform company that develops and commercializes proprietary flow electroporation technology for the delivery of macromolecules into living cells. The company’s instruments and consumables are designed to support research, preclinical development and clinical‐scale manufacturing of cell therapies across a variety of modalities, including engineered T cells, natural killer (NK) cells and induced pluripotent stem cell (iPSC) therapies.