Stephens Reiterates Overweight Rating for MaxCyte (NASDAQ:MXCT)

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

A number of other equities research analysts have also recently commented on MXCT. BTIG Research lowered their target price 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 report on Wednesday, March 13th.

MaxCyte Price Performance

NASDAQ MXCT opened at $3.71 on Tuesday. MaxCyte has a 1-year low of $2.45 and a 1-year high of $5.55. The company has a market capitalization of $387.32 million, a P/E ratio of -10.03 and a beta of 1.34. The business has a 50 day moving average price of $4.21 and a 200 day moving average price of $4.32.

MaxCyte (NASDAQ:MXCT) last announced its earnings results on Tuesday, March 12th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $15.67 million for the quarter, compared to analysts’ expectations of $15.60 million. MaxCyte had a negative return on equity of 15.90% and a negative net margin of 91.85%. On average, research analysts expect that MaxCyte will post -0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MaxCyte

Several hedge funds have recently made changes to their positions in MXCT. Cadian Capital Management LP acquired a new stake in shares of MaxCyte during the fourth quarter worth $26,531,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of MaxCyte by 29.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,537,114 shares of the company’s stock worth $11,924,000 after purchasing an additional 584,372 shares during the last quarter. Willis Investment Counsel acquired a new stake in shares of MaxCyte during the fourth quarter worth $2,585,000. Mudita Advisors LLP boosted its holdings in shares of MaxCyte by 35.3% during the fourth quarter. Mudita Advisors LLP now owns 1,881,349 shares of the company’s stock worth $8,842,000 after purchasing an additional 490,491 shares during the last quarter. Finally, Roubaix Capital LLC acquired a new stake in shares of MaxCyte during the fourth quarter worth $1,815,000. Institutional investors and hedge funds own 68.81% of the company’s stock.

MaxCyte Company Profile

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.