Stephens Reiterates Overweight Rating for MaxCyte (NASDAQ:MXCT)

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

Several other equities analysts have also recently weighed in on the company. BTIG Research lowered their price target on MaxCyte from $10.00 to $8.00 and set a buy rating on the stock in a report on Wednesday, March 13th. William Blair reiterated an outperform rating on shares of MaxCyte in a research note on Wednesday, March 13th.

MaxCyte Trading Up 0.5 %

Shares of MXCT opened at $3.71 on Tuesday. The business’s fifty day simple moving average is $4.21 and its two-hundred day simple moving average is $4.32. MaxCyte has a 12 month low of $2.45 and a 12 month high of $5.55. The company has a market cap of $387.32 million, a price-to-earnings ratio of -10.03 and a beta of 1.34.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. bought a new stake in MaxCyte in the fourth quarter worth about $29,000. Victory Capital Management Inc. bought a new stake in shares of MaxCyte during the third quarter valued at approximately $31,000. Johnson Investment Counsel Inc. bought a new stake in shares of MaxCyte during the third quarter valued at approximately $34,000. Nisa Investment Advisors LLC boosted its position in MaxCyte by 47,100.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,800 shares of the company’s stock valued at $55,000 after purchasing an additional 11,775 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in MaxCyte by 350.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,986 shares of the company’s stock valued at $56,000 after purchasing an additional 9,323 shares in the last quarter. Hedge funds and other institutional investors own 68.81% of the company’s stock.

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.