SoFi CEO enters prepaid forward contract on 1.5 million shares
ROCKVILLE, Md.—Douglas J. Swirsky, the Chief Financial Officer of MaxCyte, Inc. (NASDAQ:MXCT), a company currently trading near its 52-week low of $2.76 and showing strong liquidity with a current ratio of 10.88, recently sold a portion of his holdings in the company. According to a recent SEC filing, Swirsky disposed of 6,939 shares of MaxCyte common stock on March 18, 2025. The shares were sold at a weighted average price of $3.1793 per share, totaling approximately $22,061. Based on InvestingPro analysis, the stock appears undervalued, with analysts setting price targets between $6 and $9.
The transaction was executed to cover tax obligations arising from the vesting of restricted stock units (RSUs). This automatic "sale to cover" does not represent a discretionary trade by Swirsky. Post-transaction, Swirsky retains direct ownership of 111,811 shares in MaxCyte.
The shares were sold in multiple transactions, with prices ranging from $3.14 to $3.215. Swirsky has committed to providing detailed information regarding the specific prices of each transaction upon request.
In other recent news, MaxCyte Inc. has reported a mixed financial performance for the year 2024. The company experienced a 6% decline in total revenue, ending the year with $38.6 million, despite a 9% increase in core revenue, which reached $32.5 million. This growth was primarily driven by a significant rise in Processing Assembly revenue, up 36% from the previous year. However, MaxCyte’s fourth-quarter revenue saw a sharp 45% year-over-year decline, amounting to $8.7 million. Analysts from Stifel and BTIG have revised their price targets for MaxCyte, with Stifel lowering it to $9 and BTIG to $6, both maintaining a Buy rating. The adjustments reflect cautious stances due to macroeconomic uncertainties and conservative revenue guidance from the company. MaxCyte’s strategic focus includes its recent acquisition of SeQure Dx, which is expected to contribute to core revenue growth of 8-15% in 2025. The company ended 2024 with a strong cash position of $190.3 million and no debt, as it continues to navigate a challenging operating environment in the biopharmaceutical sector.
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