M&T Bank Corp Buys 25,644 Shares of MaxCyte, Inc. (NASDAQ:MXCT)

M&T Bank Corp grew its stake in MaxCyte, Inc. (NASDAQ:MXCT) by 29.1% during the third quarter, Holdings Channel.com reports. The fund owned 113,778 shares of the company’s stock after purchasing an additional 25,644 shares during the quarter. M&T Bank Corp’s holdings in MaxCyte were worth $443,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Intech Investment Management LLC purchased a new stake in shares of MaxCyte in the third quarter valued at approximately $51,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of MaxCyte by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,212 shares of the company’s stock worth $79,000 after buying an additional 7,930 shares during the period. Verition Fund Management LLC grew its position in shares of MaxCyte by 39.5% during the 3rd quarter. Verition Fund Management LLC now owns 21,335 shares of the company’s stock worth $83,000 after buying an additional 6,045 shares in the last quarter. Creative Planning increased its stake in shares of MaxCyte by 33.6% during the third quarter. Creative Planning now owns 28,652 shares of the company’s stock valued at $111,000 after buying an additional 7,212 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MaxCyte by 22.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,735 shares of the company’s stock valued at $128,000 after acquiring an additional 5,927 shares in the last quarter. 68.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Stanley C. Erck sold 21,607 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $3.71, for a total value of $80,161.97. Following the completion of the transaction, the director now directly owns 269,118 shares of the company’s stock, valued at approximately $998,427.78. The trade was a 7.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 27,607 shares of company stock worth $102,782 over the last 90 days. Company insiders own 3.00% of the company’s stock.

MaxCyte Price Performance

NASDAQ:MXCT opened at $4.27 on Wednesday. The firm has a market cap of $451.30 million, a PE ratio of -12.56 and a beta of 1.37. The company has a 50-day moving average of $3.72 and a 200 day moving average of $4.05. MaxCyte, Inc. has a 1-year low of $3.16 and a 1-year high of $5.55.

MaxCyte (NASDAQ:MXCT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $8.16 million during the quarter, compared to analysts’ expectations of $7.50 million. MaxCyte had a negative net margin of 78.36% and a negative return on equity of 16.00%. During the same quarter in the prior year, the company earned ($0.11) EPS. Sell-side analysts anticipate that MaxCyte, Inc. will post -0.42 EPS for the current fiscal year.

MaxCyte 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.