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Investing.com - William Blair downgraded MaxCyte Inc. (NASDAQ:MXCT) from Outperform to Market Perform on Thursday, citing the company’s disappointing performance and reduced guidance. The stock, currently trading at $2.04, has declined over 50% year-to-date and is trading near its 52-week low of $1.97, according to InvestingPro data.
The downgrade follows MaxCyte’s earnings miss, which stands out amid otherwise strong performance in the bioprocessing tools sector. The company’s revised guidance now indicates core organic revenue will decline 6%-16% for the year, including an approximately 20% drop in the second half. InvestingPro data reveals that two analysts have recently revised their earnings downward, with the company expected to remain unprofitable this year.
William Blair noted that multiple factors contributed to the guidance reduction, including delayed or failed clinical progress, manufacturing reorganization by MaxCyte’s largest customer, pipeline consolidation, and ongoing macroeconomic headwinds, particularly affecting instrument sales.
The research firm expressed concerns about MaxCyte’s lower visibility compared to peers and limited potential for meaningful upside, with even positive outcomes likely resulting in declined rather than positive growth.
William Blair also highlighted a lack of near-term company-specific catalysts, noting that Casgevy is progressing slowly, profitability remains years away, and clinical milestones have not significantly moved the stock price. While the company maintains a strong current ratio of 12.23 and holds more cash than debt, InvestingPro analysis indicates rapid cash burn - crucial insights available in the comprehensive Pro Research Report, along with 6 additional ProTips for informed decision-making.
In other recent news, MaxCyte Inc. reported its second-quarter 2025 earnings, revealing a revenue miss. The company posted an earnings per share of -$0.12, slightly below the anticipated -$0.10, resulting in a 20% negative surprise. Revenue was reported at $8.5 million, which fell short of the $9.63 million forecast, marking an 11.73% miss. These earnings results are among the latest developments for MaxCyte. The company’s stock price experienced a decline following the earnings release. Analysts and investors are closely monitoring these financial results as they assess the company’s performance.
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