MaxCyte's (MXCT) "Neutral" Rating Reiterated at BTIG Research

Key Points

• MaxCyte's stock has been assigned a "neutral" rating by BTIG Research, with an average rating of "Hold" and a target price of $7.00 according to analysts.
• The company reported a quarterly loss of ($0.12) earnings per share, missing analyst estimates, alongside revenue of $8.51 million, below expectations of $9.57 million.
• Institutional investors hold 68.81% of MaxCyte’s shares, with significant increases in holdings from firms like Deutsche Bank and Renaissance Technologies during the recent quarter.

MaxCyte (NASDAQ:MXCT - Get Free Report)'s stock had its "neutral" rating restated by stock analysts at BTIG Research in a research note issued to investors on Monday,Benzinga reports.

Other analysts also recently issued reports about the company. Stephens started coverage on MaxCyte in a report on Tuesday, July 22nd. They issued an "overweight" rating and a $6.00 price objective for the company. William Blair downgraded MaxCyte from an "outperform" rating to a "market perform" rating in a report on Thursday. Finally, Wall Street Zen downgraded MaxCyte from a "hold" rating to a "sell" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, MaxCyte has an average rating of "Hold" and a consensus target price of $7.00.

MaxCyte Stock Performance

Shares of NASDAQ:MXCT opened at $1.38 on Monday. The company has a market capitalization of $147.12 million, a PE ratio of -3.21 and a beta of 1.23. MaxCyte has a 52-week low of $1.36 and a 52-week high of $5.20. The company has a fifty day moving average of $2.16 and a 200-day moving average of $2.79.

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

Institutional Trading of MaxCyte

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in MaxCyte during the fourth quarter valued at $56,000. Deutsche Bank AG boosted its position in MaxCyte by 65.0% during the fourth quarter. Deutsche Bank AG now owns 98,436 shares of the company's stock valued at $409,000 after acquiring an additional 38,782 shares during the last quarter. Renaissance Technologies LLC boosted its position in MaxCyte by 47.9% during the fourth quarter. Renaissance Technologies LLC now owns 281,200 shares of the company's stock valued at $1,170,000 after acquiring an additional 91,100 shares during the last quarter. Hsbc Holdings PLC boosted its position in MaxCyte by 51.4% during the fourth quarter. Hsbc Holdings PLC now owns 48,791 shares of the company's stock valued at $199,000 after acquiring an additional 16,554 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in MaxCyte during the fourth quarter valued at $74,000. Institutional investors 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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