MaxCyte (NASDAQ:MXCT) Issues Quarterly Earnings Results

by · The Markets Daily

MaxCyte (NASDAQ:MXCT – Get Free Report) posted its earnings results on Wednesday. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01), FiscalAI reports. MaxCyte had a negative net margin of 125.22% and a negative return on equity of 22.12%. The company had revenue of $6.41 million for the quarter, compared to analysts’ expectations of $8.37 million.

MaxCyte Price Performance

MXCT traded down $0.05 during trading on Thursday, hitting $1.54. 236,018 shares of the stock traded hands, compared to its average volume of 760,134. The firm has a market capitalization of $163.64 million, a P/E ratio of -3.59 and a beta of 1.23. MaxCyte has a 12-month low of $1.26 and a 12-month high of $5.20. The firm has a 50-day moving average of $1.57 and a 200 day moving average of $1.90.

Wall Street Analysts Forecast Growth

MXCT has been the subject of a number of analyst reports. William Blair lowered shares of MaxCyte from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of MaxCyte in a report on Tuesday. BTIG Research reaffirmed a “neutral” rating on shares of MaxCyte in a report on Monday, August 11th. Stephens started coverage on MaxCyte in a research report on Tuesday, July 22nd. They issued an “overweight” rating and a $6.00 price objective on the stock. Finally, Wall Street Zen cut MaxCyte from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, MaxCyte has a consensus rating of “Hold” and a consensus price target of $7.00.

Get Our Latest Stock Analysis on MXCT

Institutional Investors Weigh In On MaxCyte

Institutional investors and hedge funds have recently bought and sold shares of the business. Prudential Financial Inc. purchased a new stake in shares of MaxCyte in the 2nd quarter worth about $26,000. State of Wyoming bought a new position in MaxCyte in the second quarter worth about $38,000. BNP Paribas Financial Markets lifted its holdings in MaxCyte by 266.6% in the second quarter. BNP Paribas Financial Markets now owns 26,008 shares of the company’s stock worth $57,000 after buying an additional 18,913 shares during the period. Bank of America Corp DE boosted its position in MaxCyte by 54.1% during the 2nd quarter. Bank of America Corp DE now owns 84,836 shares of the company’s stock valued at $185,000 after acquiring an additional 29,771 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of MaxCyte by 227.3% during the 1st quarter. AQR Capital Management LLC now owns 95,501 shares of the company’s stock worth $261,000 after acquiring an additional 66,323 shares during the period. Hedge funds and other institutional investors own 68.81% of the company’s stock.

About MaxCyte

(Get Free Report)

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.

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