Wall Street Zen Downgrades MaxCyte (NASDAQ:MXCT) to Sell

Key Points

• Wall Street Zen downgraded MaxCyte to a "sell", joining Weiss Ratings' negative view, while analyst coverage remains mixed (2 Buy, 2 Hold, 1 Sell) with a consensus target price of $5.50.
• MaxCyte is trading near its lows (opened at $0.85) with a market cap of about $90.6M; the company missed revenue expectations in the latest quarter ($6.76M vs. $9.16M) and remains unprofitable despite a slight EPS beat.
• Institutional ownership is high at roughly 68.8%, and notable recent inflows include large position increases by Millennium Management and HSBC.

MaxCyte (NASDAQ:MXCT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also recently commented on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of MaxCyte in a research note on Monday, December 29th. Craig Hallum decreased their price target on MaxCyte from $7.00 to $5.00 and set a "buy" rating for the company in a research note on Wednesday, March 25th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.50.

MaxCyte Stock Performance

MaxCyte stock opened at $0.85 on Friday. The stock has a 50-day moving average of $0.76 and a two-hundred day moving average of $1.23. MaxCyte has a one year low of $0.64 and a one year high of $2.96. The stock has a market cap of $90.60 million, a PE ratio of -1.97 and a beta of 1.23.

MaxCyte (NASDAQ:MXCT - Get Free Report) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. MaxCyte had a negative return on equity of 22.15% and a negative net margin of 135.14%.The company had revenue of $6.76 million during the quarter, compared to analysts' expectations of $9.16 million. As a group, sell-side analysts predict that MaxCyte will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC increased its holdings in shares of MaxCyte by 10.1% in the fourth quarter. Hsbc Holdings PLC now owns 295,400 shares of the company's stock valued at $464,000 after purchasing an additional 26,996 shares during the period. Virtu Financial LLC acquired a new position in shares of MaxCyte in the fourth quarter valued at about $67,000. Millennium Management LLC increased its holdings in shares of MaxCyte by 1,082.6% in the fourth quarter. Millennium Management LLC now owns 1,292,773 shares of the company's stock valued at $2,004,000 after purchasing an additional 1,183,461 shares during the period. Jain Global LLC acquired a new position in shares of MaxCyte in the fourth quarter valued at about $45,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of MaxCyte in the fourth quarter valued at about $103,000. 68.81% of the stock is owned by institutional investors and hedge funds.

About MaxCyte

MaxCyte, Inc NASDAQ: MXCT is a clinical‐stage cell therapy platform company that develops and commercializes proprietary flow electroporation technology for the delivery of macromolecules into living cells. The company's instruments and consumables are designed to support research, preclinical development and clinical‐scale manufacturing of cell therapies across a variety of modalities, including engineered T cells, natural killer (NK) cells and induced pluripotent stem cell (iPSC) therapies.

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