MaxCyte, Inc. (NASDAQ:MXCT) Short Interest Down 64.3% in June

MaxCyte, Inc. (NASDAQ:MXCT) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 1,515,592 shares, a decrease of 64.3% from the June 15th total of 4,239,514 shares. Based on an average daily volume of 2,364,915 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.5% of the shares of the stock are sold short.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MXCT shares. Wall Street Zen upgraded shares of MaxCyte from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Craig Hallum dropped their target price on shares of 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 cut shares of MaxCyte from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.50.

MaxCyte Trading Up 2.9%

Shares of NASDAQ:MXCT traded up $0.04 during mid-day trading on Tuesday, reaching $1.42. The stock had a trading volume of 1,347,573 shares, compared to its average volume of 1,151,941. The business’s 50 day moving average price is $1.14 and its 200 day moving average price is $1.02. MaxCyte has a 1 year low of $0.64 and a 1 year high of $2.37. The company has a market cap of $152.11 million, a P/E ratio of -3.84 and a beta of 1.47.

MaxCyte (NASDAQ:MXCT) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.04) earnings per share for the quarter, beating 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 business had revenue of $6.22 million during the quarter, compared to analysts’ expectations of $7.28 million. Analysts predict that MaxCyte will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Prudential Financial Inc. bought a new stake in MaxCyte in the second quarter worth $26,000. State of Wyoming bought a new position in MaxCyte during the second quarter valued at $38,000. Jain Global LLC purchased a new position in shares of MaxCyte in the 4th quarter worth $45,000. BNP Paribas Financial Markets grew its stake in shares of MaxCyte by 39.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 36,271 shares of the company’s stock worth $57,000 after buying an additional 10,263 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of MaxCyte in the 4th quarter worth about $67,000. 68.81% of the stock is owned by hedge funds and other institutional investors.

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.