MaxCyte (NASDAQ:MXCT) Given New $9.00 Price Target at Stifel Nicolaus

MaxCyte (NASDAQ:MXCT) had its price objective trimmed by Stifel Nicolaus from $11.00 to $9.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

MaxCyte Stock Down 8.4 %

MXCT opened at $3.18 on Wednesday. MaxCyte has a twelve month low of $2.76 and a twelve month high of $5.26. The company has a 50-day simple moving average of $4.21 and a 200 day simple moving average of $3.98. The stock has a market capitalization of $336.95 million, a price-to-earnings ratio of -9.35 and a beta of 1.35.

Institutional Investors Weigh In On MaxCyte

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in MaxCyte by 123.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,564 shares of the company’s stock worth $31,000 after purchasing an additional 4,173 shares during the period. Intech Investment Management LLC bought a new position in shares of MaxCyte in the third quarter worth about $51,000. BNP Paribas Financial Markets bought a new position in shares of MaxCyte in the fourth quarter worth about $56,000. Prudential Financial Inc. bought a new position in shares of MaxCyte in the fourth quarter worth about $65,000. Finally, Catalyst Funds Management Pty Ltd bought a new position in shares of MaxCyte in the fourth quarter worth about $74,000. Institutional investors own 68.81% of the company’s stock.

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.