MaxCyte, Inc. (NASDAQ:MXCT) Expected to Post FY2024 Earnings of ($0.47) Per Share

MaxCyte, Inc. (NASDAQ:MXCT) – Research analysts at William Blair increased their FY2024 earnings estimates for shares of MaxCyte in a research note issued to investors on Wednesday, August 7th. William Blair analyst M. Larew now expects that the company will earn ($0.47) per share for the year, up from their previous forecast of ($0.54). The consensus estimate for MaxCyte’s current full-year earnings is ($0.50) per share. William Blair also issued estimates for MaxCyte’s Q4 2024 earnings at ($0.14) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at ($0.12) EPS and FY2025 earnings at ($0.48) EPS.

MaxCyte (NASDAQ:MXCT) last announced its earnings results on Tuesday, August 6th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.05. MaxCyte had a negative net margin of 83.00% and a negative return on equity of 15.68%. The business had revenue of $10.43 million during the quarter, compared to analysts’ expectations of $8.20 million. During the same period in the prior year, the company earned ($0.10) earnings per share.

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

MaxCyte Stock Performance

Shares of MXCT stock opened at $4.18 on Friday. The company has a market capitalization of $438.16 million, a P/E ratio of -11.94 and a beta of 1.42. The business’s 50 day moving average is $4.42 and its two-hundred day moving average is $4.41. MaxCyte has a twelve month low of $2.45 and a twelve month high of $5.55.

Insider Buying and Selling at MaxCyte

In other news, EVP Thomas M. Ross sold 15,476 shares of the 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 transaction, the executive vice president now owns 25,000 shares in the company, valued at approximately $113,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Thomas M. Ross sold 15,476 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $4.54, for a total value of $70,261.04. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Maher Masoud bought 70,443 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were purchased at an average price of $4.90 per share, for a total transaction of $345,170.70. Following the completion of the transaction, the chief executive officer now owns 100,000 shares of the company’s stock, valued at approximately $490,000. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 75,340 shares of company stock valued at $315,273. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On MaxCyte

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MXCT. Renaissance Technologies LLC increased its stake in shares of MaxCyte by 29.7% during the 2nd quarter. Renaissance Technologies LLC now owns 210,914 shares of the company’s stock worth $827,000 after purchasing an additional 48,314 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in MaxCyte by 13.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,010,292 shares of the company’s stock valued at $3,961,000 after buying an additional 121,090 shares during the last quarter. American Century Companies Inc. increased its position in MaxCyte by 10.7% during the second quarter. American Century Companies Inc. now owns 144,110 shares of the company’s stock worth $565,000 after buying an additional 13,904 shares in the last quarter. Rhumbline Advisers lifted its position in shares of MaxCyte by 15.3% in the second quarter. Rhumbline Advisers now owns 157,616 shares of the company’s stock valued at $618,000 after acquiring an additional 20,864 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of MaxCyte by 22.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,735 shares of the company’s stock valued at $128,000 after acquiring an additional 5,927 shares during the last quarter. Institutional investors and hedge funds own 68.81% 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.