MaxCyte (NASDAQ:MXCT) Receives Overweight Rating from Stephens

MaxCyte (NASDAQ:MXCT)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a research report issued on Tuesday, Benzinga reports. They currently have a $11.00 price target on the stock. Stephens’ price target suggests a potential upside of 170.94% from the company’s previous close.

MXCT has been the subject of several other research reports. BTIG Research dropped their price objective on shares of MaxCyte from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. William Blair reaffirmed an “outperform” rating on shares of MaxCyte in a research note on Wednesday, March 13th.

MaxCyte Trading Up 2.5 %

Shares of NASDAQ:MXCT traded up $0.10 on Tuesday, hitting $4.06. 191,316 shares of the company were exchanged, compared to its average volume of 631,630. MaxCyte has a 1-year low of $2.45 and a 1-year high of $5.55. The stock’s 50 day moving average price is $4.29 and its 200 day moving average price is $4.32. The firm has a market capitalization of $423.85 million, a P/E ratio of -10.97 and a beta of 1.34.

MaxCyte (NASDAQ:MXCT) last released its earnings results on Tuesday, March 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The business had revenue of $15.67 million during the quarter, compared to analysts’ expectations of $15.60 million. MaxCyte had a negative net margin of 91.85% and a negative return on equity of 15.90%. On average, equities analysts predict that MaxCyte will post -0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other MaxCyte news, Director John Joseph Johnston sold 5,000 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $5.12, for a total transaction of $25,600.00. Following the sale, the director now directly owns 120,583 shares in the company, valued at approximately $617,384.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. 6.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MXCT. Cadian Capital Management LP purchased a new stake in MaxCyte in the 4th quarter worth approximately $26,531,000. Massachusetts Financial Services Co. MA grew its stake in shares of MaxCyte by 29.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,537,114 shares of the company’s stock valued at $11,924,000 after buying an additional 584,372 shares during the period. Willis Investment Counsel purchased a new stake in shares of MaxCyte during the 4th quarter valued at $2,585,000. Mudita Advisors LLP grew its stake in shares of MaxCyte by 35.3% during the 4th quarter. Mudita Advisors LLP now owns 1,881,349 shares of the company’s stock valued at $8,842,000 after buying an additional 490,491 shares during the period. Finally, Roubaix Capital LLC purchased a new stake in shares of MaxCyte during the 4th quarter valued at $1,815,000. 68.81% of the stock is owned by hedge funds and other institutional investors.

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.