Yes, studying can impact your score. However, a substantial determinant of your MCAT score is how good a test taker you are. A high score on one standardized test is the best predictor of a high score on another standardized test. This is why medical schools care so much about high MCAT scores–they predict high board scores. Grades are a less accurate predictor of standardized test scores for several reasons, one of which is the wide variation in grading standards between schools. This is especially true for small liberal arts schools (as opposed to large public institutions).
Did you only take the ACT once? Maybe you had a bad day. Have you taken other standardized tests and done well?
Good luck!