Brokerages Set MaxCyte, Inc. (NASDAQ:MXCT) Price Target at $5.50

MaxCyte, Inc. (NASDAQ:MXCT) has received an average recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $5.50.

Several analysts have issued reports on the company. Wall Street Zen upgraded MaxCyte from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings raised MaxCyte from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. Finally, Craig Hallum reduced their price objective on MaxCyte from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th.

MaxCyte Price Performance

Shares of NASDAQ:MXCT traded up $0.05 during midday trading on Friday, reaching $1.33. The company had a trading volume of 1,415,459 shares, compared to its average volume of 1,515,826. The stock has a market capitalization of $142.47 million, a P/E ratio of -3.59 and a beta of 1.47. The stock’s fifty day moving average price is $1.12 and its 200-day moving average price is $1.02. MaxCyte has a one year low of $0.64 and a one year high of $2.37.

MaxCyte (NASDAQ:MXCT) last released its earnings results on Tuesday, May 12th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.06. The company had revenue of $6.22 million during the quarter, compared to the consensus estimate of $7.28 million. MaxCyte had a negative net margin of 121.16% and a negative return on equity of 20.03%. As a group, sell-side analysts forecast that MaxCyte will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Marquette Asset Management LLC acquired a new stake in MaxCyte during the second quarter worth about $351,000. Bank of America Corp DE lifted its holdings in MaxCyte by 30.1% in the first quarter. Bank of America Corp DE now owns 127,258 shares of the company’s stock worth $89,000 after acquiring an additional 29,457 shares during the last quarter. Renaissance Technologies LLC boosted its stake in MaxCyte by 153.3% in the first quarter. Renaissance Technologies LLC now owns 1,993,200 shares of the company’s stock valued at $1,400,000 after acquiring an additional 1,206,300 shares during the period. Brooklands Fund Management Ltd bought a new position in shares of MaxCyte during the first quarter valued at approximately $1,538,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of MaxCyte by 18.3% during the first quarter. Bank of New York Mellon Corp now owns 403,937 shares of the company’s stock valued at $284,000 after purchasing an additional 62,477 shares during the last quarter. 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.