Shares of MaxCyte, Inc. (NASDAQ:MXCT) have garnered an average recommendation of “Hold” from five analysts currently covering the firm, according to a report by Marketbeat Ratings. The analysts’ ratings reflect a mixed outlook for the stock, with one analyst issuing a sell rating, two maintaining a hold rating, and two assigning a buy rating. The consensus twelve-month price target for the stock stands at $7.00.
Several analysts have recently evaluated MaxCyte’s performance. On January 10, 2024, Wall Street Zen downgraded the stock from a “hold” to a “sell” rating. Additionally, Weiss Ratings reaffirmed a “sell (e+)” rating for MaxCyte shares on December 29, 2023.
Recent Earnings Report and Financial Performance
In its most recent quarterly earnings report issued on November 12, 2023, MaxCyte posted earnings of ($0.12) per share, which fell short of analysts’ consensus estimate of ($0.11) by $0.01. The company reported revenue of $6.41 million, significantly lower than the expected $8.37 million. These figures reflect a challenging financial environment for MaxCyte, indicated by a negative net margin of 132.57% and a negative return on equity of 23.50%. Analysts predict that the company will post an earnings per share (EPS) of ($0.42) for the current fiscal year.
Institutional Investors Adjust Holdings
Changes in institutional ownership have also influenced MaxCyte’s stock dynamics. In the second quarter, Farther Finance Advisors LLC significantly increased its stake in the company by 7,935.4%, acquiring an additional 11,665 shares to bring its total to 11,812 shares, valued at approximately $26,000. Other notable transactions include Prudential Financial Inc., which established a new stake in MaxCyte valued at $26,000, and CWM LLC, which boosted its holdings by 92.7% in the same period.
New positions were also taken by May Hill Capital LLC and the State of Wyoming, which acquired stakes worth approximately $27,000 and $38,000, respectively. Currently, institutional investors and hedge funds control 68.81% of MaxCyte’s stock.
MaxCyte, Inc. is a clinical-stage cell therapy platform company specializing in proprietary flow electroporation technology, aimed at facilitating the delivery of macromolecules into living cells. Its instruments and consumables are designed to support various applications in research, preclinical development, and clinical-scale manufacturing of cell therapies.
As analysts continue to evaluate MaxCyte’s performance and market potential, stakeholders will closely monitor the company’s financial health and strategic developments.
