MaxCyte’s (MXCT) “Overweight” Rating Reiterated at Stephens

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

A number of other brokerages have also recently issued reports on MXCT. William Blair reissued an outperform rating on shares of MaxCyte in a research note on Wednesday, March 13th. BTIG Research reduced their price objective on shares of MaxCyte from $10.00 to $8.00 and set a buy rating for the company in a research note on Wednesday, March 13th.

MaxCyte Stock Down 1.3 %

Shares of MXCT stock opened at $3.69 on Tuesday. MaxCyte has a 12 month low of $2.45 and a 12 month high of $5.55. The company has a 50 day simple moving average of $4.23 and a two-hundred day simple moving average of $4.31.

MaxCyte (NASDAQ:MXCT) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $15.67 million during 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%. On average, research analysts expect that MaxCyte will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MaxCyte

Several institutional investors have recently bought and sold shares of the stock. Cadian Capital Management LP purchased a new position in MaxCyte during the fourth quarter valued at $26,531,000. Massachusetts Financial Services Co. MA grew its stake in MaxCyte by 29.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,537,114 shares of the company’s stock valued at $11,924,000 after acquiring an additional 584,372 shares in the last quarter. Mudita Advisors LLP lifted its position in MaxCyte by 35.3% during the fourth quarter. Mudita Advisors LLP now owns 1,881,349 shares of the company’s stock valued at $8,842,000 after purchasing an additional 490,491 shares during the last quarter. River Global Investors LLP lifted its position in MaxCyte by 3.1% during the fourth quarter. River Global Investors LLP now owns 1,518,646 shares of the company’s stock valued at $7,053,000 after purchasing an additional 45,392 shares during the last quarter. Finally, Willis Investment Counsel bought a new position in MaxCyte during the fourth quarter valued at $2,585,000. 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.