MaxCyte (NASDAQ:MXCT) Posts Earnings Results, Misses Expectations By $0.01 EPS

MaxCyte (NASDAQ:MXCT) issued its quarterly earnings data on Wednesday. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01), FiscalAI reports. MaxCyte had a negative return on equity of 22.12% and a negative net margin of 125.22%.The company had revenue of $6.41 million for the quarter, compared to the consensus estimate of $8.37 million.

MaxCyte Stock Down 4.4%

NASDAQ MXCT opened at $1.51 on Friday. The firm’s 50 day moving average is $1.57 and its 200-day moving average is $1.90. The company has a market capitalization of $160.98 million, a PE ratio of -3.51 and a beta of 1.23. MaxCyte has a 12-month low of $1.26 and a 12-month high of $5.20.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of MaxCyte in a report on Tuesday. Stephens began coverage on MaxCyte in a report on Tuesday, July 22nd. They issued an “overweight” rating and a $6.00 price target on the stock. BTIG Research reiterated a “neutral” rating on shares of MaxCyte in a research report on Monday, August 11th. William Blair lowered MaxCyte from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 7th. Finally, Wall Street Zen lowered MaxCyte from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.00.

Hedge Funds Weigh In On MaxCyte

Several hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. acquired a new position in MaxCyte during the second quarter valued at approximately $26,000. State of Wyoming bought a new position in shares of MaxCyte during the 2nd quarter worth approximately $38,000. BNP Paribas Financial Markets increased its holdings in shares of MaxCyte by 266.6% during the 2nd 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 last quarter. Bank of America Corp DE raised its stake in MaxCyte by 54.1% in 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 during the period. Finally, AQR Capital Management LLC increased its holdings in shares of MaxCyte by 227.3% in the first quarter. AQR Capital Management LLC now owns 95,501 shares of the company’s stock valued at $261,000 after purchasing an additional 66,323 shares during the last quarter. Institutional investors own 68.81% of the company’s stock.

MaxCyte Company Profile

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.