MaxCyte (NASDAQ:MXCT) Cut to Sell at Wall Street Zen
by Scott Moore · The Cerbat GemWall Street Zen lowered shares of MaxCyte (NASDAQ:MXCT – Free Report) from a hold rating to a sell rating in a research report released on Saturday morning.
Several other equities research analysts have also issued reports on MXCT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MaxCyte in a research note on Monday, December 29th. Craig Hallum lowered their price objective on MaxCyte from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.50.
View Our Latest Research Report on MXCT
MaxCyte Price Performance
NASDAQ:MXCT opened at $0.86 on Friday. The firm has a market capitalization of $91.86 million, a price-to-earnings ratio of -2.00 and a beta of 1.23. MaxCyte has a 1 year low of $0.64 and a 1 year high of $2.96. The business has a 50 day simple moving average of $0.77 and a 200-day simple moving average of $1.22.
MaxCyte (NASDAQ:MXCT – Get Free Report) last posted its quarterly earnings data on Tuesday, March 24th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $6.76 million during the quarter, compared to analyst estimates of $9.16 million. MaxCyte had a negative return on equity of 22.15% and a negative net margin of 135.14%. As a group, analysts expect that MaxCyte will post -0.31 earnings per share for the current fiscal year.
Institutional Investors Weigh In On MaxCyte
Several hedge funds and other institutional investors have recently modified their holdings of MXCT. Prudential Financial Inc. purchased a new stake in shares of MaxCyte in the second quarter worth approximately $26,000. State of Wyoming purchased a new stake in shares of MaxCyte in the second quarter worth approximately $38,000. Jain Global LLC purchased a new stake in shares of MaxCyte in the fourth quarter worth approximately $45,000. BNP Paribas Financial Markets raised its holdings in shares of MaxCyte by 266.6% in the second quarter. BNP Paribas Financial Markets now owns 26,008 shares of the company’s stock worth $57,000 after buying an additional 18,913 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of MaxCyte in the fourth quarter worth approximately $67,000. 68.81% of the stock is currently owned by hedge funds and other institutional investors.
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.