MaxCyte (NASDAQ:MXCT) Stock Rating Lowered by Wall Street Zen

MaxCyte (NASDAQ:MXCT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of MaxCyte in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.00.

MaxCyte Stock Performance

NASDAQ:MXCT opened at $1.43 on Friday. The firm has a 50-day simple moving average of $1.57 and a 200-day simple moving average of $1.67. MaxCyte has a one year low of $1.26 and a one year high of $5.20. The firm has a market cap of $152.54 million, a P/E ratio of -3.25 and a beta of 1.22.

MaxCyte (NASDAQ:MXCT) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The business had revenue of $6.41 million for the quarter, compared to the consensus estimate of $8.37 million. MaxCyte had a negative net margin of 132.57% and a negative return on equity of 23.50%. On average, research analysts predict that MaxCyte will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On MaxCyte

Several institutional investors and hedge funds have recently bought and sold shares of MXCT. Farther Finance Advisors LLC lifted its holdings in shares of MaxCyte by 7,935.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 11,812 shares of the company’s stock valued at $26,000 after purchasing an additional 11,665 shares during the last quarter. CWM LLC increased its position in MaxCyte by 92.7% during the 2nd quarter. CWM LLC now owns 12,132 shares of the company’s stock valued at $26,000 after buying an additional 5,836 shares in the last quarter. Prudential Financial Inc. purchased a new stake in MaxCyte in the second quarter valued at about $26,000. May Hill Capital LLC acquired a new stake in MaxCyte in the second quarter worth about $27,000. Finally, State of Wyoming purchased a new stake in shares of MaxCyte during the second quarter worth about $38,000. 68.81% of the stock is owned by hedge funds and other institutional investors.

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.