MaxCyte, Inc. (NASDAQ:MXCT) Receives Average Rating of “Hold” from Analysts

Shares of MaxCyte, Inc. (NASDAQ:MXCT) have received a consensus rating of “Hold” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.50.

MXCT has been the subject of a number of recent research reports. Wall Street Zen lowered MaxCyte from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of MaxCyte in a research note on Monday, December 29th. Finally, Craig Hallum reduced 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.

Hedge Funds Weigh In On MaxCyte

Several institutional investors and hedge funds have recently modified their holdings of MXCT. AQR Capital Management LLC increased its stake in shares of MaxCyte by 227.3% in the 1st quarter. AQR Capital Management LLC now owns 95,501 shares of the company’s stock valued at $261,000 after purchasing an additional 66,323 shares in the last quarter. American Century Companies Inc. increased its stake in shares of MaxCyte by 10.6% in the 2nd quarter. American Century Companies Inc. now owns 196,686 shares of the company’s stock valued at $429,000 after purchasing an additional 18,848 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of MaxCyte in the 2nd quarter valued at about $26,000. Hsbc Holdings PLC increased its stake in shares of MaxCyte by 410.2% in the 2nd quarter. Hsbc Holdings PLC now owns 273,218 shares of the company’s stock valued at $598,000 after purchasing an additional 219,662 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of MaxCyte in the 2nd quarter valued at about $282,000. Hedge funds and other institutional investors own 68.81% of the company’s stock.

MaxCyte Stock Performance

NASDAQ MXCT opened at $0.86 on Tuesday. The stock has a 50-day simple moving average of $0.78 and a two-hundred day simple moving average of $1.21. The firm has a market capitalization of $92.24 million, a P/E ratio of -2.01 and a beta of 1.23. MaxCyte has a fifty-two week low of $0.64 and a fifty-two week high of $2.96.

MaxCyte (NASDAQ:MXCT) last released its quarterly earnings data on Tuesday, March 24th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 forecast that MaxCyte will post -0.31 earnings per share for the current 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.