MaxCyte (NASDAQ:MXCT) Stock Price Down 4.2% – Here’s Why

Shares of MaxCyte, Inc. (NASDAQ:MXCT) fell 4.2% during mid-day trading on Monday . The stock traded as low as $0.8537 and last traded at $0.8691. 1,533,552 shares traded hands during trading, an increase of 78% from the average session volume of 859,900 shares. The stock had previously closed at $0.9068.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MaxCyte in a research note on Monday, December 29th. Wall Street Zen downgraded MaxCyte from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, MaxCyte presently has an average rating of “Hold” and an average target price of $7.00.

MaxCyte Trading Down 4.2%

The firm’s 50 day simple moving average is $1.44 and its 200-day simple moving average is $1.56. The stock has a market capitalization of $92.71 million, a price-to-earnings ratio of -1.98 and a beta of 1.21.

MaxCyte (NASDAQ:MXCT) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). MaxCyte had a negative net margin of 132.57% and a negative return on equity of 23.50%. The company had revenue of $6.41 million during the quarter, compared to the consensus estimate of $8.37 million. As a group, equities research analysts predict that MaxCyte, Inc. will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On MaxCyte

A number of institutional investors and hedge funds have recently made changes to their positions in MXCT. SG Americas Securities LLC grew its stake in shares of MaxCyte by 98.1% in the fourth quarter. SG Americas Securities LLC now owns 49,402 shares of the company’s stock valued at $77,000 after buying an additional 24,467 shares in the last quarter. Mirabella Financial Services LLP raised its position in MaxCyte by 24.2% during the third quarter. Mirabella Financial Services LLP now owns 8,200,000 shares of the company’s stock worth $12,956,000 after acquiring an additional 1,600,000 shares in the last quarter. XTX Topco Ltd lifted its stake in MaxCyte by 122.8% in the third quarter. XTX Topco Ltd now owns 389,071 shares of the company’s stock valued at $615,000 after acquiring an additional 214,405 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in MaxCyte by 44.6% in the third quarter. Bridgeway Capital Management LLC now owns 180,800 shares of the company’s stock valued at $286,000 after acquiring an additional 55,800 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new position in shares of MaxCyte in the 3rd quarter valued at about $3,330,000. Institutional investors own 68.81% of the company’s stock.

MaxCyte Company Profile

MaxCyte, Inc (NASDAQ: MXCT) is a clinical‐stage cell therapy platform company that develops and commercializes proprietary flow electroporation technology for the delivery of macromolecules into living cells. The company’s instruments and consumables are designed to support research, preclinical development and clinical‐scale manufacturing of cell therapies across a variety of modalities, including engineered T cells, natural killer (NK) cells and induced pluripotent stem cell (iPSC) therapies.