Craig Hallum Issues Pessimistic Forecast for MaxCyte (NASDAQ:MXCT) Stock Price

MaxCyte (NASDAQ:MXCT) had its target price reduced by Craig Hallum from $7.00 to $5.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of MaxCyte from a “hold” rating to a “sell” rating in a research report on Monday. Weiss Ratings restated a “sell (e+)” rating on shares of MaxCyte in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.50.

MaxCyte Price Performance

Shares of MXCT opened at $0.72 on Wednesday. The business’s fifty day moving average price is $0.85 and its 200 day moving average price is $1.32. MaxCyte has a 12-month low of $0.64 and a 12-month high of $2.96. The stock has a market capitalization of $77.12 million, a PE ratio of -1.68 and a beta of 1.22.

MaxCyte (NASDAQ:MXCT) last released its earnings results on Tuesday, March 24th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The firm had revenue of $6.76 million during the quarter, compared to analyst estimates of $9.16 million. MaxCyte had a negative net margin of 135.14% and a negative return on equity of 21.60%. As a group, research analysts anticipate that MaxCyte will post -0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. acquired a new position in shares of MaxCyte during the second quarter valued at $26,000. State of Wyoming acquired a new stake in MaxCyte in the second quarter worth about $38,000. Dynamic Technology Lab Private Ltd acquired a new stake in MaxCyte in the second quarter worth about $40,000. Kwmg LLC grew its position in MaxCyte by 75.8% in the 3rd quarter. Kwmg LLC now owns 25,833 shares of the company’s stock valued at $41,000 after buying an additional 11,135 shares in the last quarter. Finally, Jain Global LLC bought a new position in MaxCyte in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 68.81% of the company’s stock.

About MaxCyte

MaxCyte, Inc (NASDAQ: MXCT) is a clinical‐stage cell therapy platform company that develops and commercializes proprietary flow electroporation technology for the delivery of macromolecules into living cells. The company’s instruments and consumables are designed to support research, preclinical development and clinical‐scale manufacturing of cell therapies across a variety of modalities, including engineered T cells, natural killer (NK) cells and induced pluripotent stem cell (iPSC) therapies.