Insider Selling: MaxCyte, Inc. (NASDAQ:MXCT) CFO Sells 6,939 Shares of Stock

MaxCyte, Inc. (NASDAQ:MXCT) CFO Douglas J. Swirsky sold 6,939 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $3.18, for a total transaction of $22,066.02. Following the sale, the chief financial officer now owns 111,811 shares of the company’s stock, valued at approximately $355,558.98. The trade was a 5.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

MaxCyte Stock Performance

MaxCyte stock traded down $0.20 during mid-day trading on Thursday, reaching $3.07. The company’s stock had a trading volume of 627,601 shares, compared to its average volume of 508,240. MaxCyte, Inc. has a 12-month low of $2.76 and a 12-month high of $5.26. The company has a market capitalization of $325.51 million, a P/E ratio of -9.03 and a beta of 1.35. The firm’s fifty day moving average price is $4.10 and its two-hundred day moving average price is $3.95.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MXCT shares. BTIG Research set a $6.00 price target on shares of MaxCyte and gave the stock a “buy” rating in a research note on Wednesday, March 12th. Stifel Nicolaus reduced their price objective on shares of MaxCyte from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Cadian Capital Management LP grew its position in shares of MaxCyte by 14.1% during the 4th quarter. Cadian Capital Management LP now owns 9,344,424 shares of the company’s stock valued at $38,873,000 after purchasing an additional 1,155,476 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in shares of MaxCyte during the 4th quarter valued at $15,392,000. River Global Investors LLP grew its position in shares of MaxCyte by 57.7% during the 4th quarter. River Global Investors LLP now owns 3,253,192 shares of the company’s stock valued at $13,494,000 after purchasing an additional 1,190,630 shares in the last quarter. Mudita Advisors LLP grew its position in shares of MaxCyte by 2.2% during the 4th quarter. Mudita Advisors LLP now owns 3,223,407 shares of the company’s stock valued at $13,409,000 after purchasing an additional 69,966 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of MaxCyte by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,474,632 shares of the company’s stock valued at $9,628,000 after purchasing an additional 47,960 shares in the last quarter. 68.81% of the stock is currently owned by hedge funds and other institutional investors.

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.