MaxCyte, Inc. (NASDAQ:MXCT) Receives $7.00 Average Target Price from Brokerages

MaxCyte, Inc. (NASDAQ:MXCT) has been given an average recommendation of “Hold” by the five analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $7.00.

Several equities research analysts have commented on MXCT shares. BTIG Research restated a “neutral” rating on shares of MaxCyte in a research note on Monday, August 11th. Stephens assumed coverage on MaxCyte in a research report on Tuesday, July 22nd. They issued an “overweight” rating and a $6.00 target price for the company. William Blair downgraded MaxCyte from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 7th. Wall Street Zen downgraded MaxCyte from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxCyte in a research report on Tuesday, October 14th.

Insider Buying and Selling

In related news, Director William W. Brooke bought 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $1.29 per share, with a total value of $64,500.00. Following the completion of the transaction, the director directly owned 150,879 shares of the company’s stock, valued at approximately $194,633.91. This represents a 49.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Maher Masoud bought 75,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was bought at an average cost of $1.37 per share, with a total value of $102,750.00. Following the transaction, the chief executive officer directly owned 175,000 shares of the company’s stock, valued at approximately $239,750. This trade represents a 75.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 355,000 shares of company stock valued at $479,950. 3.30% of the stock is owned by insiders.

Institutional Investors Weigh In On MaxCyte

A number of hedge funds have recently bought and sold shares of the business. Moors & Cabot Inc. grew its stake in MaxCyte by 34.4% during the 1st quarter. Moors & Cabot Inc. now owns 17,708 shares of the company’s stock valued at $48,000 after purchasing an additional 4,528 shares in the last quarter. Hsbc Holdings PLC grew its stake in MaxCyte by 9.8% during the 1st quarter. Hsbc Holdings PLC now owns 53,556 shares of the company’s stock valued at $144,000 after purchasing an additional 4,765 shares in the last quarter. CWM LLC grew its stake 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 purchasing an additional 5,836 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in MaxCyte by 2.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 299,734 shares of the company’s stock valued at $818,000 after purchasing an additional 7,754 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in MaxCyte by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 345,471 shares of the company’s stock valued at $943,000 after purchasing an additional 9,337 shares in the last quarter. Institutional investors and hedge funds own 68.81% of the company’s stock.

MaxCyte Stock Up 4.5%

Shares of NASDAQ:MXCT opened at $1.61 on Tuesday. MaxCyte has a 52-week low of $1.26 and a 52-week high of $5.20. The stock’s fifty day simple moving average is $1.55 and its 200-day simple moving average is $1.96. The company has a market capitalization of $171.64 million, a P/E ratio of -3.74 and a beta of 1.23.

MaxCyte (NASDAQ:MXCT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MaxCyte had a negative net margin of 125.22% and a negative return on equity of 22.12%. The company had revenue of $8.51 million during the quarter, compared to analysts’ expectations of $9.57 million. On average, sell-side analysts anticipate that MaxCyte will post -0.42 earnings per share for the current year.

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.