5,644,898 Shares in MaxCyte, Inc. (NASDAQ:MXCT) Acquired by Cadian Capital Management LP

Cadian Capital Management LP acquired a new position in MaxCyte, Inc. (NASDAQ:MXCT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,644,898 shares of the company’s stock, valued at approximately $26,531,000. MaxCyte comprises about 1.1% of Cadian Capital Management LP’s holdings, making the stock its 21st biggest holding. Cadian Capital Management LP owned 0.05% of MaxCyte at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in shares of MaxCyte in the third quarter worth approximately $31,000. Johnson Investment Counsel Inc. purchased a new position in MaxCyte during the third quarter valued at approximately $34,000. Nisa Investment Advisors LLC lifted its holdings in MaxCyte by 47,100.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,800 shares of the company’s stock valued at $55,000 after purchasing an additional 11,775 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in MaxCyte by 350.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,986 shares of the company’s stock valued at $56,000 after purchasing an additional 9,323 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in MaxCyte during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 68.81% of the company’s stock.

MaxCyte Price Performance

Shares of MXCT stock traded up $0.10 during mid-day trading on Monday, hitting $4.96. The company had a trading volume of 374,657 shares, compared to its average volume of 581,997. MaxCyte, Inc. has a 52-week low of $2.45 and a 52-week high of $5.55. The stock’s 50 day moving average price is $4.27 and its 200-day moving average price is $4.56. The company has a market capitalization of $517.80 million, a P/E ratio of -13.89 and a beta of 1.45.

MaxCyte (NASDAQ:MXCT) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. MaxCyte had a negative net margin of 83.00% and a negative return on equity of 15.68%. The company had revenue of $11.34 million for the quarter, compared to analysts’ expectations of $7.75 million. On average, equities research analysts expect that MaxCyte, Inc. will post -0.5 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of MaxCyte in a report on Wednesday, March 13th. BTIG Research lowered their price target on shares of MaxCyte from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Finally, Stephens reaffirmed an “overweight” rating and set a $11.00 price target on shares of MaxCyte in a report on Tuesday, April 23rd.

MaxCyte Company Profile

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.