Brokerages Set MaxCyte, Inc. (NASDAQ:MXCT) Target Price at $7.00

Shares of MaxCyte, Inc. (NASDAQ:MXCT) have been assigned an average recommendation of “Hold” from the five research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $7.00.

MXCT has been the subject of several research reports. William Blair downgraded shares of MaxCyte from an “outperform” rating to a “market perform” rating in a report on Thursday, August 7th. Wall Street Zen cut MaxCyte from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Stephens initiated coverage on MaxCyte in a research note on Tuesday, July 22nd. They set an “overweight” rating and a $6.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of MaxCyte in a report on Tuesday, October 14th. Finally, BTIG Research reiterated a “neutral” rating on shares of MaxCyte in a research note on Monday, August 11th.

MaxCyte Stock Performance

Shares of NASDAQ:MXCT opened at $1.51 on Tuesday. The company has a market capitalization of $160.98 million, a price-to-earnings ratio of -3.51 and a beta of 1.23. MaxCyte has a 12-month low of $1.26 and a 12-month high of $5.20. The business has a 50-day moving average price of $1.54 and a 200 day moving average price of $1.98.

MaxCyte (NASDAQ:MXCT) last announced its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MaxCyte had a negative return on equity of 22.12% and a negative net margin of 125.22%.The company had revenue of $8.51 million for the quarter, compared to analysts’ expectations of $9.57 million. As a group, equities research analysts predict that MaxCyte will post -0.42 earnings per share for the current fiscal year.

Insider Transactions at MaxCyte

In other MaxCyte news, Director Richard Douglas bought 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average cost of $1.39 per share, with a total value of $111,200.00. Following the purchase, the director directly owned 230,577 shares in the company, valued at approximately $320,502.03. This represents a 53.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William W. Brooke purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $1.29 per share, with a total value of $64,500.00. Following the transaction, the director directly owned 150,879 shares in the company, valued at $194,633.91. This trade represents a 49.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 355,000 shares of company stock valued at $479,950. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MXCT. Farther Finance Advisors LLC increased its holdings in MaxCyte by 7,935.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 11,812 shares of the company’s stock worth $26,000 after purchasing an additional 11,665 shares during the period. CWM LLC grew its position in shares of MaxCyte by 92.7% during the second quarter. CWM LLC now owns 12,132 shares of the company’s stock worth $26,000 after buying an additional 5,836 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of MaxCyte during the second quarter worth about $26,000. May Hill Capital LLC purchased a new stake in shares of MaxCyte during the second quarter worth approximately $27,000. Finally, State of Wyoming acquired a new stake in MaxCyte in the second quarter valued at approximately $38,000. 68.81% of the stock is owned by institutional investors and hedge funds.

About MaxCyte

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.