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David Sandoval, the General Counsel of MaxCyte, Inc. (NASDAQ:MXCT), a biotechnology company with a market capitalization of $345 million, recently sold 353 shares of the company’s stock, according to a filing with the Securities and Exchange Commission. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 10.88, indicating robust short-term financial health. The shares were sold at a weighted average price of $3.1793, totaling approximately $1,122. This transaction was part of an automatic sale to cover tax withholding obligations related to the vesting of restricted stock units (RSUs).
Following the sale, Sandoval holds 64,219 shares of MaxCyte. The sale was conducted on March 18, 2025, and was not a discretionary trade by Sandoval, as it was executed to satisfy tax obligations. The shares were sold in multiple transactions with prices ranging from $3.14 to $3.215.
In other recent news, MaxCyte Inc. has reported its Q4 2024 earnings, revealing a revenue of $8.7 million, marking a 45% decline from the same period last year. Despite the revenue drop, the company exceeded earnings per share (EPS) expectations with an actual EPS of -0.1 against a forecast of -0.12. Additionally, MaxCyte experienced a 9% increase in core revenue year-over-year, driven by a 36% rise in consumable revenue, although this was offset by declines in other areas. The company’s guidance for 2025 projects an 8-15% increase in core revenue growth, including contributions from the SeQure Dx acquisition, though this falls short of analysts’ expectations. Analyst firms such as Stifel and BTIG have adjusted their price targets for MaxCyte, with Stifel lowering it to $9 and BTIG to $6, both maintaining a Buy rating. These revisions reflect a cautious stance due to macroeconomic uncertainties and conservative revenue guidance. MaxCyte’s strategic platform license agreements are anticipated to yield economic benefits, with 18 currently active in clinical stages.
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