MaxCyte's (MXCT) Neutral Rating Reaffirmed 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.

BTIG Research restated their neutral rating on shares of MaxCyte (NASDAQ:MXCT - Free Report) in a research note released on Monday, MarketBeat Ratings reports.

Other research analysts have also recently issued research reports about the stock. Stephens assumed coverage on shares of MaxCyte in a report on Tuesday, July 22nd. They set an "overweight" rating and a $6.00 price objective for the company. Wall Street Zen cut shares of MaxCyte from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, William Blair cut shares of MaxCyte from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $7.00.

MaxCyte Trading Down 3.2%

Shares of NASDAQ:MXCT traded down $0.05 during trading on Monday, hitting $1.37. 544,839 shares of the company's stock were exchanged, compared to its average volume of 773,298. MaxCyte has a 1-year low of $1.26 and a 1-year high of $5.20. The firm has a 50-day moving average price of $2.08 and a two-hundred day moving average price of $2.72. The firm has a market cap of $145.52 million, a P/E ratio of -3.17 and a beta of 1.23.

MaxCyte (NASDAQ:MXCT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MaxCyte had a negative return on equity of 22.12% and a negative net margin of 125.22%. The business had revenue of $8.51 million for the quarter, compared to analyst estimates of $9.57 million. As a group, research analysts predict that MaxCyte will post -0.42 EPS for the current year.

Insider Transactions at MaxCyte

In related news, Director Stanley C. Erck purchased 100,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were purchased at an average price of $1.37 per share, with a total value of $137,000.00. Following the completion of the purchase, the director owned 398,328 shares in the company, valued at $545,709.36. This represents a 33.52% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Douglas purchased 80,000 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was bought at an average cost of $1.39 per share, for a total transaction of $111,200.00. Following the purchase, the director owned 230,577 shares of the company's stock, valued at approximately $320,502.03. This represents a 53.13% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 355,000 shares of company stock valued at $479,950. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MXCT. Farther Finance Advisors LLC lifted its position in shares of MaxCyte by 7,935.4% in the second quarter. Farther Finance Advisors LLC now owns 11,812 shares of the company's stock worth $26,000 after purchasing an additional 11,665 shares in the last quarter. CWM LLC lifted its position in shares of MaxCyte by 92.7% in the second quarter. CWM LLC now owns 12,132 shares of the company's stock worth $26,000 after purchasing an additional 5,836 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of MaxCyte in the second quarter worth $26,000. May Hill Capital LLC bought a new stake in shares of MaxCyte in the second quarter worth $27,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of MaxCyte by 123.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,564 shares of the company's stock worth $31,000 after purchasing an additional 4,173 shares in the last quarter. Institutional investors own 68.81% of the company's stock.

MaxCyte Company Profile

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.