This trade activity should not be overlooked: MaxCyte Inc (MXCT)

MaxCyte Inc (NASDAQ: MXCT) stock jumped 6.41% on Friday to $4.15 against a previous-day closing price of $3.90. With 1.04 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.83 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $4.1700 whereas the lowest price it dropped to was $3.9300. The 52-week range on MXCT shows that it touched its highest point at $6.69 and its lowest point at $2.45 during that stretch. It currently has a 1-year price target of $9.42.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MXCT was up-trending over the past week, with a rise of 26.14%, but this was up by 33.44% over a month. Three-month performance surged to 10.08% while six-month performance rose 8.36%. The stock lost -38.06% in the past year, while it has lost -23.99% so far this year. A look at the trailing 12-month EPS for MXCT yields -0.36 with Next year EPS estimates of -0.43. For the next quarter, that number is -0.11. This implies an EPS growth rate of -82.61% for this year and -3.17% for next year.

Float and Shares Shorts:

At present, 102.40 million MXCT shares are outstanding with a float of 91.25 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.26 million, which was 3.15% higher than short shares on Sep 28, 2023. In addition to Mr. Douglas Arthur Doerfler as the firm’s Founder, President, CEO & Executive Director, Dr. Cenk Sumen Ph.D. serves as its Chief Scientific Officer.

Institutional Ownership:

Through their ownership of 76.21% of MXCT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.94% of MXCT, in contrast to 29.99% held by mutual funds. Shares owned by individuals account for 11.78%. As the largest shareholder in MXCT with 5.98% of the stake, BlackRock Fund Advisors holds 6,194,717 shares worth 6,194,717. A second-largest stockholder of MXCT, The Vanguard Group, Inc., holds 4,911,338 shares, controlling over 4.74% of the firm’s shares. Millennium Management LLC is the third largest shareholder in MXCT, holding 3,846,641 shares or 3.72% stake. With a 2.72% stake in MXCT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,818,256 shares are owned by the mutual fund manager. The Unicorn AIM VCT Plc, which owns about 2.40% of MXCT stock, is the second-largest Mutual Fund holder. It holds 2,485,500 shares valued at 7.36 million. iShares Russell 2000 ETF holds 1.91% of the stake in MXCT, owning 1,977,204 shares worth 5.85 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MXCT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MXCT analysts setting a high price target of $11.00 and a low target of $7.00, the average target price over the next 12 months is $9.42. Based on these targets, MXCT could surge 165.06% to reach the target high and rise by 68.67% to reach the target low. Reaching the average price target will result in a growth of 126.99% from current levels.

Summary of Insider Activity:

Insiders traded MXCT stock several times over the past three months with 6 Buys and 6 Sells. In these transactions, 10,000 shares were bought while 10,000 shares were sold. The number of buy transactions has increased to 46 while that of sell transactions has risen to 42 over the past year. The total number of shares bought during that period was 620,891 while 460,891 shares were sold.