M&T Bank Corp Decreases Stake in MaxCyte, Inc. (NASDAQ:MXCT)

M&T Bank Corp lowered its holdings in MaxCyte, Inc. (NASDAQ:MXCTFree Report) by 46.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,872 shares of the company’s stock after selling 75,641 shares during the quarter. M&T Bank Corp owned 0.08% of MaxCyte worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Willis Investment Counsel purchased a new position in shares of MaxCyte in the fourth quarter worth $2,585,000. Blair William & Co. IL raised its stake in shares of MaxCyte by 94.4% in the third quarter. Blair William & Co. IL now owns 251,851 shares of the company’s stock worth $786,000 after purchasing an additional 122,326 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of MaxCyte in the third quarter worth $44,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of MaxCyte by 350.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,986 shares of the company’s stock worth $56,000 after acquiring an additional 9,323 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of MaxCyte by 28.6% in the fourth quarter. SG Americas Securities LLC now owns 48,550 shares of the company’s stock worth $228,000 after acquiring an additional 10,800 shares during the period. Hedge funds and other institutional investors own 68.81% of the company’s stock.

MaxCyte Price Performance

NASDAQ:MXCT opened at $4.54 on Wednesday. The stock has a 50-day simple moving average of $4.11 and a two-hundred day simple moving average of $4.42. MaxCyte, Inc. has a 52-week low of $2.45 and a 52-week high of $5.55.

MaxCyte (NASDAQ:MXCTGet Free Report) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.05. MaxCyte had a negative return on equity of 15.68% and a negative net margin of 83.00%. The business had revenue of $15.67 million during the quarter, compared to analyst estimates of $15.60 million. As a group, equities analysts predict that MaxCyte, Inc. will post -0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MXCT shares. William Blair reaffirmed an “outperform” rating on shares of MaxCyte in a report on Wednesday, March 13th. BTIG Research cut their price objective on MaxCyte from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Finally, Stephens reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of MaxCyte in a report on Tuesday, April 23rd.

Read Our Latest Stock Analysis on MaxCyte

MaxCyte Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for MaxCyte (NASDAQ:MXCT)

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