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Ali Soleymannezhad, the Chief Commercial Officer of MaxCyte, Inc. (NASDAQ:MXCT), a biotechnology company with a market capitalization of $345 million, recently sold shares of the company’s common stock. According to InvestingPro data, the stock is currently trading near its Fair Value, with analysts maintaining a strong buy consensus. The sale, which took place on March 18, 2025, involved 1,211 shares at a weighted average price of $3.1793 per share, totaling approximately $3,850. Following this transaction, Soleymannezhad retains ownership of 59,439 shares. The stock has seen significant volatility, trading between $2.76 and $5.26 over the past 52 weeks.
The shares were sold to cover tax withholding obligations upon the vesting of previously granted restricted stock units (RSUs). This transaction was automatically executed and does not represent a discretionary trade by Soleymannezhad. The shares were sold in multiple transactions at prices ranging from $3.14 to $3.215. For deeper insights into insider trading patterns and additional ProTips about MXCT, including its strong balance sheet position, check out the comprehensive research report available on InvestingPro.
In other recent news, MaxCyte Inc. has announced its fourth-quarter earnings for 2024, revealing a total revenue of $8.7 million, marking a significant 45% decline from the same period in the previous year. Despite the revenue drop, the company reported an earnings per share (EPS) of -0.1, surpassing the forecasted -0.12. The company has projected an 8-15% growth in core revenue for 2025, factoring in contributions from the newly acquired SeQure Dx business. However, this projection falls short of Wall Street expectations, leading to a cautious outlook from analysts. Stifel and BTIG have both adjusted their price targets for MaxCyte, with Stifel lowering it to $9 while maintaining a Buy rating, and BTIG reducing it to $6, also with a Buy rating. The analysts have noted macroeconomic and funding uncertainties as influencing factors in their revised targets. MaxCyte ended 2024 with $190.3 million in cash and no debt, maintaining a strong financial position despite the challenges. The company also highlighted the potential economic benefits from its strategic platform license agreements, with 28 active agreements at the end of the year.
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