MaxCyte (NASDAQ:MXCT) Stock Falls 1% - Should You Sell?

Key Points

• MaxCyte shares fell 1% to approximately $1.01 in light trading, with volume 31% below the average daily level.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with a $5.00 price target, while Weiss Ratings recently downgraded the stock’s sell rating.
• The company remains unprofitable, reporting a negative net margin of 114.77% and negative return on equity, although quarterly EPS of negative $0.08 slightly beat estimates.

MaxCyte, Inc. (NASDAQ:MXCT - Get Free Report)'s stock price traded down 1% on Friday. The company traded as low as $0.99 and last traded at $1.01. 240,006 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 345,584 shares. The stock had previously closed at $1.02.

Analyst Ratings Changes

MXCT has been the topic of several recent analyst reports. Weiss Ratings lowered MaxCyte from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday. BTIG Research reiterated a "neutral" rating on shares of MaxCyte in a report on Monday, August 24th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $5.00.

MaxCyte Stock Performance

The business's 50-day moving average price is $1.21 and its 200 day moving average price is $1.09. The company has a market cap of $104.24 million, a P/E ratio of -3.06 and a beta of 1.49.

MaxCyte (NASDAQ:MXCT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. MaxCyte had a negative return on equity of 18.92% and a negative net margin of 114.77%. The firm had revenue of $6.50 million for the quarter, compared to the consensus estimate of $6.51 million. Equities research analysts forecast that MaxCyte, Inc. will post -0.25 earnings per share for the current year.

Institutional Investors Weigh In On MaxCyte

A number of hedge funds and other institutional investors have recently made changes to their positions in MXCT. Renaissance Technologies LLC lifted its holdings in shares of MaxCyte by 153.3% during the first quarter. Renaissance Technologies LLC now owns 1,993,200 shares of the company's stock worth $1,400,000 after purchasing an additional 1,206,300 shares during the period. BlackRock Inc. bought a new stake in MaxCyte in the 2nd quarter worth about $3,765,000. Vitruvian Partners LLP purchased a new stake in MaxCyte during the second quarter worth about $6,203,328. Brooklands Fund Management Ltd purchased a new position in shares of MaxCyte in the first quarter worth about $1,538,000. Finally, Stonepine Capital Management LLC bought a new position in MaxCyte in the 2nd quarter worth about $924,475. 68.81% of the stock is currently owned by institutional investors and hedge funds.

MaxCyte Company Profile

MaxCyte, Inc is a biotechnology company that develops and commercializes cell-engineering technologies for use in biopharmaceutical research, development and manufacturing. Its platform is designed to introduce nucleic acids and other molecules into cells, supporting applications such as cell therapy, gene editing, induced pluripotent stem cells and protein production.

The company's primary offering is the ExPERT platform, which combines electroporation instruments, proprietary processing protocols, software and single-use processing assemblies.

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