Wall Street Zen Upgrades MaxCyte (NASDAQ:MXCT) to “Hold”

MaxCyte (NASDAQ:MXCT) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

Several other equities research analysts have also commented on the company. Stifel Nicolaus decreased their price target on MaxCyte from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. BTIG Research set a $6.00 price target on MaxCyte and gave the stock a “buy” rating in a research note on Wednesday, March 12th.

MaxCyte Stock Performance

MXCT opened at $2.18 on Friday. The business’s 50-day simple moving average is $2.47 and its 200-day simple moving average is $3.43. MaxCyte has a one year low of $2.10 and a one year high of $5.26. The stock has a market capitalization of $231.99 million, a P/E ratio of -6.41 and a beta of 1.27.

MaxCyte (NASDAQ:MXCT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The firm had revenue of $10.39 million for the quarter, compared to analysts’ expectations of $9.05 million. MaxCyte had a negative return on equity of 16.00% and a negative net margin of 78.36%. On average, equities research analysts forecast that MaxCyte will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On MaxCyte

A number of hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its stake in shares of MaxCyte by 123.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,564 shares of the company’s stock valued at $31,000 after acquiring an additional 4,173 shares during the period. Kwmg LLC acquired a new position in shares of MaxCyte during the first quarter valued at approximately $40,000. Moors & Cabot Inc. increased its stake in shares of MaxCyte by 34.4% during the first quarter. Moors & Cabot Inc. now owns 17,708 shares of the company’s stock valued at $48,000 after acquiring an additional 4,528 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of MaxCyte during the fourth quarter valued at approximately $56,000. Finally, New York State Common Retirement Fund increased its stake in shares of MaxCyte by 131.4% during the first quarter. New York State Common Retirement Fund now owns 21,837 shares of the company’s stock valued at $60,000 after acquiring an additional 12,400 shares during the period. Institutional investors own 68.81% of the company’s stock.

MaxCyte Company Profile

MaxCyte, Inc, a life sciences company, discovers, develops, and commercializes next-generation cell therapies in the United States and internationally. Its products include ExPERT ATx, a static electroporation instrument for small to medium scale transfection; ExPERT STx, a flow electroporation for protein production and drug development, as well as expression of therapeutic targets for cell-based assays; ExPERT GTx, a flow electroporation for large scale transfection in therapeutic applications; and ExPERT VLx for very large volume cell-engineering.