MaxCyte (NASDAQ:MXCT) Trading Up 0.9% – Time to Buy?

MaxCyte, Inc. (NASDAQ:MXCT) was up 0.9% on Monday . The stock traded as high as $1.21 and last traded at $1.15. Approximately 608,672 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 1,345,848 shares. The stock had previously closed at $1.14.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MXCT shares. Wall Street Zen raised MaxCyte from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MaxCyte in a research report on Friday, April 24th. Finally, Craig Hallum dropped their target price on MaxCyte from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, MaxCyte currently has a consensus rating of “Hold” and a consensus target price of $5.50.

MaxCyte Price Performance

The firm has a 50 day moving average of $0.92 and a two-hundred day moving average of $1.08. The stock has a market cap of $123.19 million, a PE ratio of -3.11 and a beta of 1.48.

MaxCyte (NASDAQ:MXCT) last posted its earnings results on Tuesday, May 12th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.06. The firm had revenue of $6.22 million during the quarter, compared to analysts’ expectations of $7.28 million. MaxCyte had a negative return on equity of 20.03% and a negative net margin of 121.16%. As a group, equities analysts anticipate that MaxCyte, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On MaxCyte

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capricorn Fund Managers Ltd purchased a new stake in MaxCyte in the first quarter valued at approximately $5,760,000. Mirabella Financial Services LLP lifted its stake in MaxCyte by 24.2% in the third quarter. Mirabella Financial Services LLP now owns 8,200,000 shares of the company’s stock valued at $12,956,000 after buying an additional 1,600,000 shares during the last quarter. State Street Corp lifted its stake in MaxCyte by 4.0% in the fourth quarter. State Street Corp now owns 2,358,384 shares of the company’s stock valued at $3,655,000 after buying an additional 91,534 shares during the last quarter. AXA S.A. lifted its stake in MaxCyte by 123.2% in the second quarter. AXA S.A. now owns 2,202,378 shares of the company’s stock valued at $4,801,000 after buying an additional 1,215,481 shares during the last quarter. Finally, Brooklands Fund Management Ltd purchased a new stake in MaxCyte in the first quarter valued at approximately $1,538,000. Hedge funds and other institutional investors own 68.81% of the company’s stock.

MaxCyte Company Profile

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.