MaxCyte (NASDAQ:MXCT) Stock Price Up 0.9% – Here’s What Happened

MaxCyte, Inc. (NASDAQ:MXCT)’s stock price rose 0.9% during trading on Monday . The company traded as high as $1.21 and last traded at $1.15. Approximately 608,672 shares traded hands during trading, a decline of 55% from the average daily volume of 1,345,848 shares. The stock had previously closed at $1.14.

Analysts Set New Price Targets

MXCT has been the topic of a number of recent analyst reports. Craig Hallum cut their price target 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 Friday, April 24th. Finally, Wall Street Zen upgraded shares of MaxCyte from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.50.

MaxCyte Price Performance

The company’s fifty day moving average is $0.93 and its 200-day moving average is $1.08.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Prudential Financial Inc. purchased a new position in shares of MaxCyte during the 2nd quarter worth $26,000. State of Wyoming purchased a new position in shares of MaxCyte during the 2nd quarter worth $38,000. Jain Global LLC purchased a new position in shares of MaxCyte during the 4th quarter worth $45,000. BNP Paribas Financial Markets boosted its stake 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 acquiring an additional 10,263 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of MaxCyte during the 4th quarter worth $67,000. 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.