MaxCyte (NASDAQ:MXCT) Receives “Overweight” Rating from Stephens

Stephens reaffirmed their overweight rating on shares of MaxCyte (NASDAQ:MXCT) in a research report sent to investors on Tuesday, Benzinga reports. Stephens currently has a $11.00 price target on the stock.

A number of other equities analysts have also recently commented on MXCT. William Blair reiterated an outperform rating on shares of MaxCyte in a research report on Wednesday, March 13th. BTIG Research dropped their price objective on shares of MaxCyte from $10.00 to $8.00 and set a buy rating on the stock in a research note on Wednesday, March 13th.

MaxCyte Stock Down 4.0 %

Shares of NASDAQ:MXCT opened at $3.80 on Tuesday. The stock has a market cap of $396.70 million, a PE ratio of -10.27 and a beta of 1.34. The company’s fifty day moving average is $4.27 and its 200 day moving average is $4.32. MaxCyte has a 52 week low of $2.45 and a 52 week high of $5.55.

MaxCyte (NASDAQ:MXCT) last issued its earnings results on Tuesday, March 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $15.67 million for the quarter, compared to analysts’ expectations of $15.60 million. MaxCyte had a negative net margin of 91.85% and a negative return on equity of 15.90%. Sell-side analysts anticipate that MaxCyte will post -0.53 EPS for the current year.

Insider Activity

In other news, Director John Joseph Johnston sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $5.12, for a total transaction of $25,600.00. Following the completion of the transaction, the director now directly owns 120,583 shares of the company’s stock, valued at $617,384.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MXCT. SG Americas Securities LLC purchased a new position in shares of MaxCyte during the third quarter valued at approximately $118,000. Chevy Chase Trust Holdings LLC increased its holdings in MaxCyte by 18.7% during the third quarter. Chevy Chase Trust Holdings LLC now owns 56,252 shares of the company’s stock valued at $176,000 after buying an additional 8,871 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MaxCyte by 140.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,205 shares of the company’s stock valued at $72,000 after buying an additional 13,574 shares during the last quarter. M&T Bank Corp increased its holdings in MaxCyte by 3.4% during the third quarter. M&T Bank Corp now owns 163,513 shares of the company’s stock valued at $510,000 after buying an additional 5,443 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in MaxCyte during the third quarter valued at approximately $31,000. 68.81% of the stock is owned by hedge funds and other institutional investors.

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.