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

MaxCyte, Inc. (NASDAQ:MXCT) has been assigned a consensus rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.50.

Several equities analysts recently issued reports on the stock. Craig Hallum dropped their target price on shares of MaxCyte from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of MaxCyte in a report on Monday, December 29th. Finally, Wall Street Zen lowered MaxCyte from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th.

Institutional Investors Weigh In On MaxCyte

A number of hedge funds have recently added to or reduced their stakes in MXCT. BNP Paribas Financial Markets grew its position in shares of MaxCyte by 39.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 36,271 shares of the company’s stock worth $57,000 after buying an additional 10,263 shares during the period. Prudential Financial Inc. acquired a new position in shares of MaxCyte during the 2nd quarter valued at $26,000. State of Wyoming acquired a new position in shares of MaxCyte during the 2nd quarter valued at $38,000. American Century Companies Inc. boosted its stake in MaxCyte by 10.6% during the second quarter. American Century Companies Inc. now owns 196,686 shares of the company’s stock worth $429,000 after acquiring an additional 18,848 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in MaxCyte by 98.1% during the fourth quarter. SG Americas Securities LLC now owns 49,402 shares of the company’s stock worth $77,000 after acquiring an additional 24,467 shares in the last quarter. 68.81% of the stock is currently owned by institutional investors.

MaxCyte Price Performance

Shares of MXCT stock opened at $0.86 on Tuesday. The stock has a market capitalization of $92.07 million, a PE ratio of -2.00 and a beta of 1.23. The business’s 50 day simple moving average is $0.77 and its 200 day simple moving average is $1.21. 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 (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. MaxCyte had a negative net margin of 135.14% and a negative return on equity of 22.15%. The firm had revenue of $6.76 million during the quarter, compared to analyst estimates of $9.16 million. As a group, research analysts expect that MaxCyte will post -0.31 earnings per share for the current year.

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.