MaxCyte, Inc. (NASDAQ:MXCT) Receives $5.50 Average Target Price from Analysts

Shares of MaxCyte, Inc. (NASDAQ:MXCT) have been given an average recommendation of “Hold” by the five ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $5.50.

Several research analysts have weighed in on MXCT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of MaxCyte in a research report on Monday, December 29th. Wall Street Zen cut shares of MaxCyte from a “hold” rating to a “sell” rating in a research report on Monday, March 23rd. Finally, Craig Hallum decreased their price target on shares of MaxCyte from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th.

MaxCyte Stock Performance

MaxCyte stock opened at $0.68 on Friday. The company has a market capitalization of $73.05 million, a price-to-earnings ratio of -1.59 and a beta of 1.22. MaxCyte has a 12 month low of $0.64 and a 12 month high of $2.96. The stock’s 50 day moving average is $0.84 and its 200-day moving average is $1.31.

MaxCyte (NASDAQ:MXCT) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $6.76 million during the quarter, compared to analysts’ expectations of $9.16 million. MaxCyte had a negative return on equity of 22.15% and a negative net margin of 135.14%. As a group, equities research analysts predict that MaxCyte will post -0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. acquired a new stake in MaxCyte during the second quarter worth approximately $26,000. State of Wyoming bought a new position in shares of MaxCyte in the second quarter worth $38,000. Dynamic Technology Lab Private Ltd acquired a new position in MaxCyte in the second quarter valued at about $40,000. Kwmg LLC raised its stake in MaxCyte by 75.8% in the third quarter. Kwmg LLC now owns 25,833 shares of the company’s stock valued at $41,000 after purchasing an additional 11,135 shares in the last quarter. Finally, Jain Global LLC bought a new stake in MaxCyte during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 68.81% of the company’s stock.

About MaxCyte

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.