MaxCyte (NASDAQ:MXCT) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

MaxCyte (NASDAQ:MXCT) released its earnings results on Tuesday. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.05, Zacks reports. MaxCyte had a negative net margin of 83.00% and a negative return on equity of 15.68%. The company had revenue of $10.43 million for the quarter, compared to analyst estimates of $8.20 million. During the same quarter last year, the firm earned ($0.10) EPS. MaxCyte updated its FY 2024 guidance to EPS.

MaxCyte Stock Down 8.3 %

Shares of NASDAQ:MXCT traded down $0.37 on Wednesday, hitting $4.08. The company had a trading volume of 703,167 shares, compared to its average volume of 582,745. The firm’s 50-day simple moving average is $4.43 and its two-hundred day simple moving average is $4.42. MaxCyte has a 1 year low of $2.45 and a 1 year high of $5.55. The firm has a market capitalization of $427.68 million, a price-to-earnings ratio of -11.66 and a beta of 1.42.

Wall Street Analyst Weigh In

Separately, Stephens reaffirmed an “overweight” rating and set a $11.00 target price on shares of MaxCyte in a report on Tuesday, April 23rd.

Insider Transactions at MaxCyte

In other news, EVP Thomas M. Ross sold 15,476 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $4.54, for a total value of $70,261.04. Following the completion of the sale, the executive vice president now directly owns 25,000 shares of the company’s stock, valued at approximately $113,500. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Thomas M. Ross sold 15,476 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $4.54, for a total value of $70,261.04. Following the completion of the sale, the executive vice president now directly owns 25,000 shares of the company’s stock, valued at approximately $113,500. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Maher Masoud purchased 29,557 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $4.87 per share, with a total value of $143,942.59. Following the completion of the transaction, the chief executive officer now owns 29,557 shares in the company, valued at $143,942.59. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 75,340 shares of company stock valued at $315,273. Company insiders own 3.00% of the company’s stock.

About MaxCyte

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.