Longitude Capital Partners Ii, Sells 27,500 Shares of Rapid Micro Biosystems (NASDAQ:RPID) Stock

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) major shareholder Longitude Capital Partners Ii, sold 27,500 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $4.25, for a total transaction of $116,875.00. Following the completion of the sale, the insider directly owned 76,500 shares of the company’s stock, valued at approximately $325,125. This trade represents a 26.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Longitude Capital Partners Ii, also recently made the following trade(s):

• On Friday, January 30th, Longitude Capital Partners Ii, sold 46,000 shares of Rapid Micro Biosystems stock. The stock was sold at an average price of $4.54, for a total value of $208,840.00.
• On Friday, January 23rd, Longitude Capital Partners Ii, sold 7,739 shares of Rapid Micro Biosystems stock. The shares were sold at an average price of $4.06, for a total value of $31,420.34.

Rapid Micro Biosystems Stock Down 10.6%

Shares of NASDAQ RPID opened at $3.89 on Thursday. The business has a 50-day moving average price of $3.68 and a 200 day moving average price of $3.40. The stock has a market cap of $172.40 million, a PE ratio of -3.85 and a beta of 1.38. The company has a quick ratio of 2.95, a current ratio of 4.23 and a debt-to-equity ratio of 0.42. Rapid Micro Biosystems, Inc. has a 52-week low of $1.86 and a 52-week high of $4.94.

Rapid Micro Biosystems (NASDAQ:RPID) last released its quarterly earnings results on Friday, November 7th. The company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). The company had revenue of $7.84 million for the quarter, compared to analyst estimates of $7.60 million. Rapid Micro Biosystems had a negative return on equity of 73.90% and a negative net margin of 145.11%. Equities research analysts forecast that Rapid Micro Biosystems, Inc. will post -1.1 earnings per share for the current year.

Hedge Funds Weigh In On Rapid Micro Biosystems

A number of large investors have recently bought and sold shares of RPID. Evernest Financial Advisors LLC raised its position in Rapid Micro Biosystems by 355.1% in the third quarter. Evernest Financial Advisors LLC now owns 200,234 shares of the company’s stock worth $669,000 after acquiring an additional 156,234 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Rapid Micro Biosystems by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 965,018 shares of the company’s stock worth $3,223,000 after purchasing an additional 60,655 shares during the period. XTX Topco Ltd acquired a new position in shares of Rapid Micro Biosystems during the 2nd quarter worth $144,000. Dimensional Fund Advisors LP increased its holdings in shares of Rapid Micro Biosystems by 37.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 55,642 shares of the company’s stock valued at $186,000 after purchasing an additional 15,255 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Rapid Micro Biosystems in the third quarter valued at about $38,000. Hedge funds and other institutional investors own 52.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Rapid Micro Biosystems from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.00.

About Rapid Micro Biosystems

Rapid Micro Biosystems (NASDAQ: RPID) develops and commercializes automated microbial detection and contamination control solutions for the life sciences industry. Its flagship offering, the Growth Direct® System, leverages digital imaging and proprietary growth indicator plates to identify and count microorganisms more rapidly than traditional culture-based methods. The company’s technology platform is designed to streamline quality control workflows in pharmaceutical, biotechnology and vaccine manufacturing settings, helping clients reduce release times and improve operational efficiency.

In addition to the Growth Direct® System, Rapid Micro Biosystems offers an integrated suite of software and consumables that support automated data capture, analysis and reporting.