MaxCyte price target lowered to $5 from $7 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on MaxCyte (MXCT) to $5 from $7 and keeps a Buy rating on the shares. The firm notes the company reported an ostensibly weak quarter. However, Craig-Hallum points out that the company continues to make solid progress and that its fundamentals remain strong. In addition to supporting more late-stage programs than ever and launching a new product designed to build the early-stage customer pipeline, the firm believes that with the stock currently trading at a 50% discount to cash per share, the risk-to-reward profile is attractive.