MaxCyte (NASDAQ:MXCT) Issues Earnings Results

MaxCyte (NASDAQ:MXCT) released its earnings results on Tuesday. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01), FiscalAI reports. MaxCyte had a negative net margin of 132.57% and a negative return on equity of 23.50%. The company had revenue of $6.76 million for the quarter, compared to the consensus estimate of $9.16 million.

MaxCyte Price Performance

NASDAQ:MXCT traded down $0.02 on Tuesday, reaching $0.74. 671,202 shares of the company’s stock were exchanged, compared to its average volume of 1,115,887. The firm has a market cap of $78.94 million, a price-to-earnings ratio of -1.68 and a beta of 1.22. The stock has a fifty day simple moving average of $0.89 and a 200-day simple moving average of $1.33. MaxCyte has a 52 week low of $0.64 and a 52 week high of $3.12.

Analysts Set New Price Targets

MXCT has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of MaxCyte in a research note on Monday, December 29th. Wall Street Zen downgraded MaxCyte from a “hold” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.00.

Institutional Trading of MaxCyte

A number of institutional investors have recently modified their holdings of the business. Prudential Financial Inc. purchased a new position in MaxCyte in the 2nd quarter valued at approximately $26,000. State of Wyoming purchased a new stake in shares of MaxCyte during the second quarter worth $38,000. Jain Global LLC purchased a new stake in shares of MaxCyte during the fourth quarter worth $45,000. BNP Paribas Financial Markets boosted its holdings in shares of 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 acquiring an additional 18,913 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of MaxCyte in the fourth quarter valued at $67,000. 68.81% of the stock is currently owned by hedge funds and other institutional investors.

About MaxCyte

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.