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

MaxCyte (NASDAQ:MXCT) announced its quarterly earnings results on Tuesday. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate 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 Stock Performance

MaxCyte stock traded down $0.02 during mid-day trading on Tuesday, hitting $0.74. 671,202 shares of the company traded hands, compared to its average volume of 1,115,887. MaxCyte has a one year low of $0.64 and a one year high of $3.12. The stock 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 moving average price of $0.89 and a 200-day moving average price of $1.33.

Institutional Trading of MaxCyte

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC grew its position in MaxCyte by 227.3% in the first 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 in the last quarter. American Century Companies Inc. raised its position in MaxCyte by 10.6% during the second quarter. American Century Companies Inc. now owns 196,686 shares of the company’s stock valued at $429,000 after purchasing an additional 18,848 shares in the last quarter. Prudential Financial Inc. purchased a new stake in MaxCyte during the second quarter valued at about $26,000. Hsbc Holdings PLC lifted its stake in MaxCyte by 410.2% during the second quarter. Hsbc Holdings PLC now owns 273,218 shares of the company’s stock worth $598,000 after purchasing an additional 219,662 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of MaxCyte in the 2nd quarter worth about $282,000. Hedge funds and other institutional investors own 68.81% of the company’s stock.

Analyst Upgrades and Downgrades

MXCT has been the topic of a number of analyst reports. Wall Street Zen lowered shares of MaxCyte from a “hold” rating to a “sell” rating in a report on Monday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MaxCyte in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, MaxCyte presently has an average rating of “Hold” and an average target price of $6.00.

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.