MaxCyte, Inc. (NASDAQ:MXCT) Receives Consensus Recommendation of “Hold” from Brokerages

MaxCyte, Inc. (NASDAQ:MXCT) has been assigned an average recommendation of “Hold” from the five brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $5.50.

A number of brokerages have weighed in on MXCT. Wall Street Zen upgraded shares of MaxCyte from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Craig Hallum cut their target price on shares of MaxCyte from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of MaxCyte in a research report on Friday, April 24th.

Institutional Investors Weigh In On MaxCyte

Institutional investors and hedge funds have recently modified their holdings of the company. Capricorn Fund Managers Ltd bought a new stake in MaxCyte during the 1st quarter worth approximately $5,760,000. Mirabella Financial Services LLP lifted its stake in MaxCyte by 24.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 8,200,000 shares of the company’s stock worth $12,956,000 after purchasing an additional 1,600,000 shares in the last quarter. State Street Corp lifted its stake in MaxCyte by 4.0% in the 4th quarter. State Street Corp now owns 2,358,384 shares of the company’s stock worth $3,655,000 after purchasing an additional 91,534 shares in the last quarter. AXA S.A. lifted its stake in MaxCyte by 123.2% in the 2nd quarter. AXA S.A. now owns 2,202,378 shares of the company’s stock worth $4,801,000 after purchasing an additional 1,215,481 shares in the last quarter. Finally, Brooklands Fund Management Ltd purchased a new stake in MaxCyte in the 1st quarter worth approximately $1,538,000. 68.81% of the stock is owned by hedge funds and other institutional investors.

MaxCyte Stock Down 1.7%

Shares of NASDAQ:MXCT opened at $1.14 on Wednesday. The firm has a market capitalization of $122.12 million, a PE ratio of -3.08 and a beta of 1.48. MaxCyte has a twelve month low of $0.64 and a twelve month high of $2.37. The company has a 50-day moving average price of $0.97 and a two-hundred day moving average price of $1.06.

MaxCyte (NASDAQ:MXCT) last issued its earnings results on Tuesday, May 12th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The firm had revenue of $6.22 million during the quarter, compared to analyst estimates of $7.28 million. MaxCyte had a negative net margin of 121.16% and a negative return on equity of 20.03%. Analysts anticipate that MaxCyte will post -0.3 earnings per share for the current fiscal year.

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.