MaxCyte, Inc. (NASDAQ:MXCT) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• MaxCyte, Inc. (NASDAQ:MXCT) has received a consensus recommendation of "Moderate Buy" from four research firms, including two buy ratings and two hold ratings, with an average 1-year target price set at $7.00.
• In a recent insider transaction, Director Richard Douglas purchased 80,000 shares at $1.39 each, resulting in a 53.13% increase in his ownership of the stock.
• MaxCyte's latest earnings report showed a loss of ($0.12) EPS for the quarter, falling short of the consensus estimate, with revenues totaling $8.51 million compared to expectations of $9.57 million.

Shares of MaxCyte, Inc. (NASDAQ:MXCT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the four research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $7.00.

A number of research firms have weighed in on MXCT. Weiss Ratings reiterated a "sell (e+)" rating on shares of MaxCyte in a research report on Saturday, September 27th. William Blair lowered shares of MaxCyte from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 7th. Wall Street Zen lowered shares of MaxCyte from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. BTIG Research reiterated a "neutral" rating on shares of MaxCyte in a research report on Monday, August 11th. Finally, Stephens started coverage on shares of MaxCyte in a research report on Tuesday, July 22nd. They issued an "overweight" rating and a $6.00 price target for the company.

Insider Activity

In related news, Director Richard Douglas bought 80,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $1.39 per share, for a total transaction of $111,200.00. Following the completion of the transaction, the director owned 230,577 shares in the company, valued at $320,502.03. The trade was a 53.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William W. Brooke bought 50,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average price of $1.29 per share, with a total value of $64,500.00. Following the transaction, the director owned 150,879 shares of the company's stock, valued at $194,633.91. The trade was a 49.56% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 355,000 shares of company stock valued at $479,950 in the last quarter. Company insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On MaxCyte

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen LLC bought a new position in MaxCyte during the first quarter valued at $733,000. Two Sigma Advisers LP bought a new position in MaxCyte during the fourth quarter valued at $74,000. New York State Common Retirement Fund lifted its position in MaxCyte by 131.4% during the first quarter. New York State Common Retirement Fund now owns 21,837 shares of the company's stock valued at $60,000 after purchasing an additional 12,400 shares during the last quarter. Gagnon Securities LLC lifted its position in MaxCyte by 431.3% during the first quarter. Gagnon Securities LLC now owns 1,048,318 shares of the company's stock valued at $2,862,000 after purchasing an additional 850,992 shares during the last quarter. Finally, Rice Hall James & Associates LLC lifted its position in MaxCyte by 72.2% during the first quarter. Rice Hall James & Associates LLC now owns 454,365 shares of the company's stock valued at $1,240,000 after purchasing an additional 190,532 shares during the last quarter. Institutional investors own 68.81% of the company's stock.

MaxCyte Trading Up 6.2%

NASDAQ MXCT traded up $0.10 during trading hours on Friday, hitting $1.71. 880,593 shares of the company's stock traded hands, compared to its average volume of 793,754. The business's fifty day moving average price is $1.57 and its two-hundred day moving average price is $2.14. The firm has a market capitalization of $182.30 million, a P/E ratio of -3.98 and a beta of 1.23. MaxCyte has a 52 week low of $1.26 and a 52 week high of $5.20.

MaxCyte (NASDAQ:MXCT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The business had revenue of $8.51 million for the quarter, compared to the consensus estimate of $9.57 million. MaxCyte had a negative net margin of 125.22% and a negative return on equity of 22.12%. On average, sell-side analysts expect that MaxCyte will post -0.42 EPS for the current fiscal year.

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.

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