MaxCyte (NASDAQ:MXCT) Announces Quarterly Earnings Results

MaxCyte (NASDAQ:MXCT) posted its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $6.76 million during the quarter, compared to the consensus estimate of $9.16 million.

MaxCyte Stock Performance

Shares of MaxCyte stock traded down $0.02 on Tuesday, reaching $0.74. 691,779 shares of the stock were exchanged, compared to its average volume of 1,118,205. The firm’s 50 day moving average is $0.89 and its 200-day moving average is $1.33. MaxCyte has a one year low of $0.64 and a one year high of $3.12. The firm has a market cap of $78.94 million, a PE ratio of -1.68 and a beta of 1.22.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of MaxCyte by 227.3% during the 1st quarter. AQR Capital Management LLC now owns 95,501 shares of the company’s stock valued at $261,000 after acquiring an additional 66,323 shares in the last quarter. American Century Companies Inc. increased its holdings in MaxCyte by 10.6% in the 2nd quarter. American Century Companies Inc. now owns 196,686 shares of the company’s stock worth $429,000 after purchasing an additional 18,848 shares in the last quarter. Prudential Financial Inc. bought a new position in MaxCyte in the second quarter valued at about $26,000. Hsbc Holdings PLC raised its position in MaxCyte by 410.2% in the second quarter. Hsbc Holdings PLC now owns 273,218 shares of the company’s stock valued at $598,000 after purchasing an additional 219,662 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of MaxCyte during the second quarter valued at about $282,000. 68.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.