MaxCyte, Inc. (NASDAQ:MXCT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of MaxCyte, Inc. (NASDAQ:MXCT) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $5.50.

A number of brokerages have recently weighed in on MXCT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MaxCyte in a research note on Friday, April 24th. Craig Hallum dropped 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. Finally, Wall Street Zen raised MaxCyte from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th.

Institutional Investors Weigh In On MaxCyte

A number of institutional investors have recently modified their holdings of MXCT. Mirabella Financial Services LLP grew its stake in MaxCyte by 24.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 8,200,000 shares of the company’s stock worth $12,956,000 after purchasing an additional 1,600,000 shares in the last quarter. Willis Investment Counsel grew its stake in MaxCyte by 126.8% during the 3rd quarter. Willis Investment Counsel now owns 862,758 shares of the company’s stock worth $1,363,000 after purchasing an additional 482,287 shares in the last quarter. Renaissance Technologies LLC grew its stake in MaxCyte by 153.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,993,200 shares of the company’s stock worth $1,400,000 after purchasing an additional 1,206,300 shares in the last quarter. Brooklands Fund Management Ltd acquired a new position in MaxCyte during the 1st quarter worth $1,538,000. Finally, Bank of New York Mellon Corp grew its stake in MaxCyte by 18.3% during the 1st quarter. Bank of New York Mellon Corp now owns 403,937 shares of the company’s stock worth $284,000 after purchasing an additional 62,477 shares in the last quarter. 68.81% of the stock is owned by institutional investors and hedge funds.

MaxCyte Stock Up 2.9%

NASDAQ:MXCT opened at $1.07 on Friday. MaxCyte has a 52 week low of $0.64 and a 52 week high of $2.40. The company has a market capitalization of $114.62 million, a P/E ratio of -2.89 and a beta of 1.37. The stock’s fifty day moving average is $0.83 and its two-hundred day moving average is $1.12.

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

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.