MaxCyte (NASDAQ:MXCT) Cut to "Sell" at Wall Street Zen

Wall Street Zen downgraded shares of MaxCyte (NASDAQ:MXCT - Free Report) from a hold rating to a sell rating in a research note published on Saturday morning.

A number of other research analysts have also recently commented on MXCT. Stifel Nicolaus reduced their price objective on MaxCyte from $11.00 to $9.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. BTIG Research set a $6.00 target price on MaxCyte and gave the company a "buy" rating in a report on Wednesday, March 12th.

MaxCyte Stock Performance

Shares of MXCT traded up $0.11 during trading hours on Friday, hitting $2.39. The stock had a trading volume of 1,092,925 shares, compared to its average volume of 606,031. MaxCyte has a 12-month low of $2.10 and a 12-month high of $5.26. The firm has a market cap of $254.10 million, a P/E ratio of -7.03 and a beta of 1.38. The company's fifty day simple moving average is $2.50 and its 200 day simple moving average is $3.45.

MaxCyte (NASDAQ:MXCT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.10). MaxCyte had a negative net margin of 78.36% and a negative return on equity of 16.00%. The firm had revenue of $10.39 million for the quarter, compared to analysts' expectations of $9.05 million. As a group, sell-side analysts predict that MaxCyte will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MaxCyte

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in MaxCyte by 123.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,564 shares of the company's stock worth $31,000 after buying an additional 4,173 shares in the last quarter. Kwmg LLC acquired a new stake in MaxCyte during the 1st quarter valued at approximately $40,000. Moors & Cabot Inc. increased its holdings in MaxCyte by 34.4% during the 1st quarter. Moors & Cabot Inc. now owns 17,708 shares of the company's stock worth $48,000 after purchasing an additional 4,528 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in MaxCyte during the 4th quarter worth approximately $56,000. Finally, New York State Common Retirement Fund raised its position in shares of MaxCyte by 131.4% in the 1st 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 in the last quarter. 68.81% of the stock is owned by institutional investors and hedge funds.

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.