Stephens Initiates Coverage on MaxCyte (NASDAQ:MXCT)

Stephens initiated coverage on shares of MaxCyte (NASDAQ:MXCT - Free Report) in a research report released on Tuesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $6.00 price objective on the stock.

Separately, Wall Street Zen raised shares of MaxCyte from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th.

MaxCyte Trading Down 2.0%

MXCT traded down $0.05 during trading hours on Tuesday, hitting $2.23. 125,541 shares of the company's stock were exchanged, compared to its average volume of 745,898. MaxCyte has a 12-month low of $2.00 and a 12-month high of $5.20. The firm has a 50 day moving average of $2.22 and a 200 day moving average of $3.03. The firm has a market cap of $236.78 million, a P/E ratio of -5.56 and a beta of 1.23.

MaxCyte (NASDAQ:MXCT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). MaxCyte had a negative net margin of 110.92% and a negative return on equity of 19.90%. The firm had revenue of $10.39 million for the quarter, compared to the consensus estimate of $9.05 million. As a group, research analysts expect that MaxCyte will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MXCT. American Century Companies Inc. lifted its stake in MaxCyte by 9.2% in the fourth quarter. American Century Companies Inc. now owns 176,367 shares of the company's stock worth $734,000 after acquiring an additional 14,825 shares during the last quarter. Prudential Financial Inc. purchased a new position in MaxCyte in the fourth quarter worth approximately $65,000. EntryPoint Capital LLC purchased a new position in MaxCyte in the fourth quarter worth approximately $185,000. Blair William & Co. IL lifted its stake in MaxCyte by 3.6% in the fourth quarter. Blair William & Co. IL now owns 282,859 shares of the company's stock worth $1,177,000 after acquiring an additional 9,900 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in MaxCyte by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 61,411 shares of the company's stock worth $255,000 after purchasing an additional 13,376 shares in the last quarter. Hedge funds and other 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.