MaxCyte (NASDAQ:MXCT) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

MaxCyte (NASDAQ:MXCT) issued its earnings results on Wednesday. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01), FiscalAI reports. MaxCyte had a negative return on equity of 22.12% and a negative net margin of 125.22%.The firm had revenue of $6.41 million during the quarter, compared to the consensus estimate of $8.37 million.

MaxCyte Stock Performance

MXCT traded down $0.02 during trading on Thursday, reaching $1.57. 167,822 shares of the stock were exchanged, compared to its average volume of 759,801. The stock has a market cap of $166.84 million, a P/E ratio of -3.64 and a beta of 1.23. MaxCyte has a twelve month low of $1.26 and a twelve month high of $5.20. The stock’s 50 day moving average price is $1.57 and its two-hundred day moving average price is $1.90.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Stephens assumed coverage on shares of MaxCyte in a research report on Tuesday, July 22nd. They set an “overweight” rating and a $6.00 target price on the stock. William Blair lowered MaxCyte from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of MaxCyte in a report on Tuesday. BTIG Research reissued a “neutral” rating on shares of MaxCyte in a research report on Monday, August 11th. Finally, Wall Street Zen downgraded MaxCyte from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, MaxCyte has an average rating of “Hold” and an average target price of $7.00.

Hedge Funds Weigh In On MaxCyte

A number of large investors have recently made changes to their positions in MXCT. AXA S.A. increased its holdings in MaxCyte by 123.2% during the 2nd quarter. AXA S.A. now owns 2,202,378 shares of the company’s stock worth $4,801,000 after purchasing an additional 1,215,481 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of MaxCyte by 94.2% in the second quarter. Lazard Asset Management LLC now owns 284,498 shares of the company’s stock worth $620,000 after buying an additional 137,983 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of MaxCyte by 410.2% in the 2nd quarter. Hsbc Holdings PLC now owns 273,218 shares of the company’s stock worth $598,000 after acquiring an additional 219,662 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of MaxCyte by 10.6% in the second quarter. American Century Companies Inc. now owns 196,686 shares of the company’s stock worth $429,000 after buying an additional 18,848 shares during the period. Finally, Marshall Wace LLP bought a new stake in MaxCyte during the 2nd quarter valued at $282,000. Institutional investors 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.