TD Cowen analyst Brendan Smith has maintained their bullish stance on MXCT stock, giving a Buy rating on March 10.
Brendan Smith has given his Buy rating due to a combination of factors including MaxCyte’s conservative revenue guidance for FY25, which does not account for potential macroeconomic changes or elongated sales cycles. The acquisition of SeQure Dx marks a strategic move beyond electroporation, with new product launches anticipated to bolster organic growth.
Additionally, MaxCyte’s financial position appears robust with a projected $160 million in cash and investments by the end of FY25, providing a multi-year runway to achieve adjusted EBITDA positivity. The company’s cost-saving measures, such as the recent reduction in force, are expected to free up resources for new initiatives in cell engineering and manufacturing, further supporting the optimistic outlook for the stock.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MXCT in relation to earlier this year.
Questions or Comments about the article? Write to editor@tipranks.com