MaxCyte (NASDAQ:MXCT) Earns Neutral Rating from BTIG Research

MaxCyte (NASDAQ:MXCT)‘s stock had its “neutral” rating reissued by investment analysts at BTIG Research in a research note issued to investors on Monday, MarketBeat Ratings reports.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen downgraded MaxCyte from a “hold” rating to a “sell” rating in a report on Saturday. Stephens started coverage on MaxCyte in a report on Tuesday, July 22nd. They set an “overweight” rating and a $6.00 price objective on the stock. Finally, William Blair downgraded MaxCyte from an “outperform” rating to a “market perform” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.00.

MaxCyte Stock Performance

Shares of MXCT stock opened at $1.27 on Monday. The stock’s fifty day moving average price is $2.12 and its two-hundred day moving average price is $2.76. The company has a market cap of $135.39 million, a PE ratio of -2.95 and a beta of 1.23. MaxCyte has a fifty-two week low of $1.26 and a fifty-two week high of $5.20.

MaxCyte (NASDAQ:MXCT) last issued its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The business had revenue of $8.51 million during the quarter, compared to analyst estimates of $9.57 million. MaxCyte had a negative net margin of 125.22% and a negative return on equity of 22.12%. On average, equities analysts predict that MaxCyte will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On MaxCyte

Several hedge funds have recently modified their holdings of MXCT. Mirabella Financial Services LLP acquired a new stake in shares of MaxCyte during the 4th quarter valued at $15,392,000. Cadian Capital Management LP lifted its holdings in MaxCyte by 14.1% during the 4th quarter. Cadian Capital Management LP now owns 9,344,424 shares of the company’s stock worth $38,873,000 after buying an additional 1,155,476 shares during the period. AXA S.A. acquired a new position in MaxCyte during the 4th quarter worth about $4,105,000. Gagnon Advisors LLC acquired a new position in MaxCyte during the 1st quarter worth about $2,550,000. Finally, Chevy Chase Trust Holdings LLC lifted its holdings in MaxCyte by 66.5% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 2,230,182 shares of the company’s stock worth $6,088,000 after buying an additional 890,353 shares during the period. Institutional investors and hedge funds own 68.81% of the company’s stock.

About MaxCyte

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.