Is it a Good Time to Dispose Your MaxCyte (MXCT) Shares?

Baron Funds, an asset management firm, published its “Baron Small Cap Fund” second quarter 2022 investor letter – a copy of which can be downloaded here. Baron Small Cap Fund (the “Fund”) was down 18.60% (Institutional Shares) in the second quarter. The Fund modestly outperformed the Russell 2000 Growth Index, which was down 19.25% for the period, but lagged the S&P 500 Index, which was down 16.10%. Year-to-date, the Fund is down 31.36%, which trailed the Russell 2000 Growth Index and the S&P 500 Index, which were down 29.45% and 19.96%, respectively. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Baron Small Cap Fund mentioned MaxCyte, Inc. (NASDAQ:MXCT) and explained its insights for the company. Founded in 1998, MaxCyte, Inc. (NASDAQ:MXCT) is a Gaithersburg, Maryland-based commercial cell-engineering company with a $640.9 million market capitalization. MaxCyte, Inc. (NASDAQ:MXCT) delivered a -36.11% return since the beginning of the year, while its 12-month returns are up by -57.48%. The stock closed at $6.51 per share on September 12, 2022.

Here is what Baron Small Cap Fund has to say about MaxCyte, Inc. (NASDAQ:MXCT) in its Q2 2022 investor letter:

“During the quarter, we exited MaxCyte, Inc., an early-stage cell and gene therapy tools company, whose value largely depends on milestone payments and commercialized product revenues of its customers.”

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Our calculations show that MaxCyte, Inc. (NASDAQ:MXCT) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. MaxCyte, Inc. (NASDAQ:MXCT) was in 10 hedge fund portfolios at the end of the second quarter of 2022, compared to 12 funds in the previous quarter. MaxCyte, Inc. (NASDAQ:MXCT) delivered a 74.53% return in the past 3 months.

In September 2022, we also shared another hedge fund’s views on MaxCyte, Inc. (NASDAQ:MXCT) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.