MaxCyte's (MXCT) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• MaxCyte (MXCT) received a "sell (D-)" rating from Weiss Ratings, indicating ongoing concerns about its stock performance.
• The company's recent earnings report revealed a loss of ($0.12) per share, which was below analysts' expectations of ($0.10), alongside a revenue miss of $8.51 million against an expected $9.57 million.
• Insider trading activity saw significant investment, with CFO Douglas J. Swirsky increasing his stake by 44.72% and Director Richard Douglas raising theirs by 53.13%, signaling confidence from company leadership despite the stock's challenges.

MaxCyte (NASDAQ:MXCT - Get Free Report)'s stock had its "sell (d-)" rating restated by equities research analysts at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

Several other research firms have also recently commented on MXCT. Wall Street Zen cut MaxCyte from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Stephens began coverage on MaxCyte in a research note on Tuesday, July 22nd. They set an "overweight" rating and a $6.00 target price for the company. William Blair cut MaxCyte from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 7th. Finally, BTIG Research reiterated a "neutral" rating on shares of MaxCyte in a research note on Monday, August 11th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, MaxCyte has a consensus rating of "Hold" and a consensus target price of $7.00.

MaxCyte Price Performance

NASDAQ MXCT traded up $0.05 on Tuesday, reaching $1.65. The company had a trading volume of 221,853 shares, compared to its average volume of 783,789. The firm has a market capitalization of $176.33 million, a PE ratio of -3.83 and a beta of 1.23. MaxCyte has a 1 year low of $1.26 and a 1 year high of $5.20. The firm has a 50-day moving average of $1.50 and a 200-day moving average of $2.06.

MaxCyte (NASDAQ:MXCT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The company had revenue of $8.51 million during the quarter, compared to analysts' expectations of $9.57 million. MaxCyte had a negative return on equity of 22.12% and a negative net margin of 125.22%. As a group, sell-side analysts expect that MaxCyte will post -0.42 EPS for the current fiscal year.

Insider Activity at MaxCyte

In other MaxCyte news, CFO Douglas J. Swirsky purchased 50,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were bought at an average cost of $1.29 per share, with a total value of $64,500.00. Following the completion of the acquisition, the chief financial officer owned 161,811 shares of the company's stock, valued at approximately $208,736.19. This trade represents a 44.72% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Douglas bought 80,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average cost of $1.39 per share, with a total value of $111,200.00. Following the purchase, the director directly owned 230,577 shares of the company's stock, valued at approximately $320,502.03. This represents a 53.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 355,000 shares of company stock valued at $479,950. 3.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MaxCyte

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its stake in MaxCyte by 7,935.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 11,812 shares of the company's stock worth $26,000 after acquiring an additional 11,665 shares in the last quarter. Prudential Financial Inc. purchased a new stake in MaxCyte in the 2nd quarter worth about $26,000. CWM LLC raised its stake in shares of MaxCyte by 92.7% during the 2nd quarter. CWM LLC now owns 12,132 shares of the company's stock worth $26,000 after purchasing an additional 5,836 shares in the last quarter. May Hill Capital LLC purchased a new stake in shares of MaxCyte during the 2nd quarter worth about $27,000. Finally, State of Wyoming purchased a new stake in shares of MaxCyte during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 68.81% of the company's stock.

MaxCyte Company Profile

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.

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