MaxCyte (NASDAQ:MXCT) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of MaxCyte (NASDAQ:MXCT) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other brokerages have also recently commented on MXCT. Weiss Ratings reiterated a “sell (e+)” rating on shares of MaxCyte in a research note on Monday, December 29th. 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. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, MaxCyte currently has an average rating of “Hold” and a consensus target price of $5.50.

MaxCyte Stock Up 4.0%

Shares of MXCT stock opened at $0.85 on Friday. The stock has a market cap of $90.60 million, a P/E ratio of -1.97 and a beta of 1.23. MaxCyte has a 52 week low of $0.64 and a 52 week high of $2.96. The company’s fifty day simple moving average is $0.76 and its two-hundred day simple moving average is $1.23.

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

Institutional Trading of MaxCyte

Hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. purchased a new stake in shares of MaxCyte during the 2nd quarter valued at about $26,000. State of Wyoming purchased a new stake in shares of MaxCyte during the 2nd quarter valued at about $38,000. BNP Paribas Financial Markets raised its position in shares of MaxCyte by 266.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 26,008 shares of the company’s stock valued at $57,000 after buying an additional 18,913 shares in the last quarter. Jain Global LLC purchased a new stake in shares of MaxCyte during the 4th quarter valued at about $45,000. Finally, Virtu Financial LLC purchased a new stake in shares of MaxCyte during the 4th quarter valued at about $67,000. 68.81% of the stock is currently owned by hedge funds and other institutional investors.

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.