MaxCyte (NASDAQ:MXCT) Upgraded by Wall Street Zen to Hold Rating

MaxCyte (NASDAQ:MXCT) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Several other brokerages also recently weighed in on MXCT. Craig Hallum reduced their target price 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of MaxCyte in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, MaxCyte currently has a consensus rating of “Hold” and a consensus target price of $5.50.

MaxCyte Stock Performance

Shares of MaxCyte stock opened at $0.68 on Tuesday. The stock has a market cap of $72.26 million, a price-to-earnings ratio of -1.57 and a beta of 1.22. The stock has a 50 day moving average price of $0.83 and a 200-day moving average price of $1.31. MaxCyte has a one year low of $0.64 and a one year high of $2.96.

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

Hedge Funds Weigh In On MaxCyte

Institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. purchased a new stake in MaxCyte in the second quarter worth about $26,000. State of Wyoming bought a new position in MaxCyte during the 2nd quarter worth about $38,000. Kwmg LLC increased its position in MaxCyte by 75.8% during the 3rd quarter. Kwmg LLC now owns 25,833 shares of the company’s stock valued at $41,000 after purchasing an additional 11,135 shares during the period. Jain Global LLC purchased a new position in MaxCyte during the 4th quarter valued at about $45,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of MaxCyte by 39.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 36,271 shares of the company’s stock valued at $57,000 after purchasing an additional 10,263 shares in the last quarter. Hedge funds and other institutional investors 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.