MaxCyte (NASDAQ:MXCT) Price Target Lowered to $9.00 at Stifel Nicolaus

MaxCyte (NASDAQ:MXCT) had its price objective dropped by equities researchers at Stifel Nicolaus from $11.00 to $9.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 159.37% from the company’s previous close.

MaxCyte Price Performance

Shares of MaxCyte stock opened at $3.47 on Wednesday. The stock has a market capitalization of $367.68 million, a price-to-earnings ratio of -10.21 and a beta of 1.35. The business has a 50-day moving average of $4.23 and a 200 day moving average of $3.99. MaxCyte has a 12 month low of $3.16 and a 12 month high of $5.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. increased its stake in shares of MaxCyte by 10.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 22,366 shares of the company’s stock worth $93,000 after buying an additional 2,154 shares during the period. Rhumbline Advisers raised its stake in MaxCyte by 1.6% in the fourth quarter. Rhumbline Advisers now owns 153,655 shares of the company’s stock valued at $639,000 after buying an additional 2,402 shares in the last quarter. Valmark Advisers Inc. increased its stake in MaxCyte by 2.2% in the fourth quarter. Valmark Advisers Inc. now owns 115,654 shares of the company’s stock valued at $481,000 after purchasing an additional 2,478 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of MaxCyte by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,929 shares of the company’s stock valued at $249,000 after purchasing an additional 2,584 shares during the period. Finally, Invesco Ltd. grew its position in MaxCyte by 8.5% during the 4th quarter. Invesco Ltd. now owns 49,096 shares of the company’s stock worth $204,000 after purchasing an additional 3,848 shares during the last quarter. 68.81% of the stock is owned by institutional investors and hedge funds.

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.