MaxCyte (NASDAQ:MXCT) Rating Increased to Hold at Wall Street Zen

MaxCyte (NASDAQ:MXCT - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Sunday.

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

MaxCyte Price Performance

Shares of NASDAQ:MXCT opened at $2.15 on Friday. The company has a market cap of $228.59 million, a price-to-earnings ratio of -6.32 and a beta of 1.27. The firm's 50-day simple moving average is $2.48 and its 200-day simple moving average is $3.44. MaxCyte has a fifty-two week low of $2.10 and a fifty-two week high of $5.26.

MaxCyte (NASDAQ:MXCT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $10.39 million for the quarter, compared to the consensus estimate of $9.05 million. MaxCyte had a negative net margin of 78.36% and a negative return on equity of 16.00%. On average, research analysts forecast that MaxCyte will post -0.42 EPS for the current year.

Institutional Trading of MaxCyte

Several hedge funds and other institutional investors have recently made changes to their positions in MXCT. BNP Paribas Financial Markets acquired a new position in MaxCyte during the fourth quarter worth about $56,000. Deutsche Bank AG raised its position in MaxCyte by 65.0% during the fourth quarter. Deutsche Bank AG now owns 98,436 shares of the company's stock worth $409,000 after acquiring an additional 38,782 shares during the last quarter. Hsbc Holdings PLC raised its position in MaxCyte by 51.4% during the fourth quarter. Hsbc Holdings PLC now owns 48,791 shares of the company's stock worth $199,000 after acquiring an additional 16,554 shares during the last quarter. Renaissance Technologies LLC raised its position in MaxCyte by 47.9% during the fourth quarter. Renaissance Technologies LLC now owns 281,200 shares of the company's stock worth $1,170,000 after acquiring an additional 91,100 shares during the last quarter. Finally, Rice Hall James & Associates LLC acquired a new position in MaxCyte during the fourth quarter worth about $1,098,000. Institutional investors and hedge funds own 68.81% of the company's stock.

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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