Should You Invest in MaxCyte (MXCT)?

Baron Funds, an investment management company, released its “Baron Health Care Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 6.01% compared to a 4.72% decline for the Russell 3000 Health Care Index. The fund’s underperformance in the quarter was attributed to poor stock selection. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds highlighted stocks like MaxCyte, Inc. (NASDAQ:MXCT) in its Q3 2022 investor letter. Headquartered in Rockville, Maryland, MaxCyte, Inc. (NASDAQ:MXCT) is a life sciences company. On October 14, 2022, MaxCyte, Inc. (NASDAQ:MXCT) stock closed at $6.19 per share. One-month return of MaxCyte, Inc. (NASDAQ:MXCT) was 0.67% and its shares lost 38.10% of their value over the last 52 weeks. MaxCyte, Inc. (NASDAQ:MXCT) has a market capitalization of $626.787 million.

Here is what Baron Funds specifically said about MaxCyte, Inc. (NASDAQ:MXCT) in its Q3 2022 investor letter:

MaxCyte, Inc. (NASDAQ:MXCT) is a life sciences tools company offering an electroporation platform in the cell and gene therapy space. Similar to other earlier stage tools companies, MaxCyte shares saw a steep sell-off in the first half of 2022, followed by a slight rebound in the third quarter. Although it will take time to realize, we believe the company has built up a significant pipeline of clinical programs with potential sales-based payments if successfully commercialized.”

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MaxCyte, Inc. (NASDAQ:MXCT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held MaxCyte, Inc. (NASDAQ:MXCT) at the end of the second quarter which was 12 in the previous quarter.

We discussed MaxCyte, Inc. (NASDAQ:MXCT) in another article and shared Baron Funds’ views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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