MaxCyte (NASDAQ:MXCT) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of MaxCyte (NASDAQ:MXCT) from a hold rating to a sell rating in a report issued on Monday morning.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MaxCyte in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MaxCyte currently has an average rating of “Hold” and a consensus target price of $6.00.

MaxCyte Price Performance

MXCT stock opened at $0.76 on Monday. The company’s 50 day simple moving average is $0.89 and its 200-day simple moving average is $1.33. MaxCyte has a 12 month low of $0.64 and a 12 month high of $3.17. The firm has a market capitalization of $80.74 million, a PE ratio of -1.72 and a beta of 1.22.

Institutional Investors Weigh In On MaxCyte

Hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC raised its position in shares of MaxCyte by 10.1% in the fourth quarter. Hsbc Holdings PLC now owns 295,400 shares of the company’s stock valued at $464,000 after buying an additional 26,996 shares during the last quarter. Virtu Financial LLC acquired a new stake in MaxCyte during the fourth quarter worth approximately $67,000. Millennium Management LLC boosted its position in MaxCyte by 1,082.6% during the fourth quarter. Millennium Management LLC now owns 1,292,773 shares of the company’s stock worth $2,004,000 after acquiring an additional 1,183,461 shares during the last quarter. Jain Global LLC purchased a new stake in MaxCyte in the 4th quarter worth approximately $45,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in MaxCyte in the 4th quarter worth approximately $103,000. 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.