MaxCyte (NASDAQ:MXCT) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

MaxCyte (NASDAQ:MXCT) posted its quarterly earnings results on Tuesday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.06, FiscalAI reports. MaxCyte had a negative return on equity of 22.15% and a negative net margin of 135.14%.The business had revenue of $6.22 million for the quarter, compared to analyst estimates of $7.28 million.

MaxCyte Price Performance

Shares of MXCT stock traded up $0.01 during trading hours on Tuesday, reaching $0.82. 745,966 shares of the company traded hands, compared to its average volume of 982,115. MaxCyte has a 12-month low of $0.64 and a 12-month high of $2.40. The company has a market cap of $88.07 million, a P/E ratio of -1.91 and a beta of 1.37. The firm has a 50-day moving average price of $0.80 and a 200 day moving average price of $1.15.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in MaxCyte by 39.5% during the third quarter. BNP Paribas Financial Markets now owns 36,271 shares of the company’s stock valued at $57,000 after acquiring an additional 10,263 shares during the period. Prudential Financial Inc. purchased a new stake in shares of MaxCyte during the second quarter worth about $26,000. State of Wyoming bought a new stake in MaxCyte during the 2nd quarter valued at approximately $38,000. American Century Companies Inc. raised its stake in MaxCyte by 10.6% during the 2nd 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 during the period. Finally, Jain Global LLC purchased a new position in MaxCyte in the 4th quarter worth approximately $45,000. Institutional investors own 68.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MXCT. Craig Hallum decreased their price objective on shares of MaxCyte from $7.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Weiss Ratings restated a “sell (e+)” rating on shares of MaxCyte in a report on Friday, April 24th. Finally, Wall Street Zen downgraded MaxCyte from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, MaxCyte has a consensus rating of “Hold” and a consensus target price of $5.50.

MaxCyte Company Profile

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.