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

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

MaxCyte Trading Up 0.6%

NASDAQ:MXCT traded up $0.01 during midday trading on Tuesday, hitting $0.82. 745,966 shares of the company traded hands, compared to its average volume of 982,115. The firm has a market capitalization of $88.07 million, a P/E ratio of -1.91 and a beta of 1.37. The firm’s fifty day moving average is $0.80 and its 200-day moving average is $1.15. MaxCyte has a 12-month low of $0.64 and a 12-month high of $2.40.

Institutional Investors Weigh In On MaxCyte

Several hedge funds and other institutional investors have recently made changes to their positions in MXCT. State Street Corp lifted its holdings in shares of MaxCyte by 4.0% in the 4th quarter. State Street Corp now owns 2,358,384 shares of the company’s stock worth $3,655,000 after acquiring an additional 91,534 shares during the last quarter. AXA S.A. grew 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 valued at $4,801,000 after purchasing an additional 1,215,481 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in MaxCyte in the 3rd quarter worth about $3,330,000. Millennium Management LLC lifted its stake in MaxCyte by 1,082.6% in the fourth quarter. Millennium Management LLC now owns 1,292,773 shares of the company’s stock worth $2,004,000 after purchasing an additional 1,183,461 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of MaxCyte during the fourth quarter valued at approximately $1,594,000. Hedge funds and other institutional investors own 68.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MXCT shares. Weiss Ratings restated a “sell (e+)” rating on shares of MaxCyte in a research report on Friday, April 24th. Craig Hallum decreased their target price on MaxCyte from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Finally, Wall Street Zen cut MaxCyte from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.