Rapid Micro Biosystems (NASDAQ:RPID) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Rapid Micro Biosystems (NASDAQ:RPID) from a hold rating to a sell rating in a report issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.00.

Rapid Micro Biosystems Price Performance

RPID stock opened at $2.27 on Friday. The company has a current ratio of 3.31, a quick ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $103.19 million, a P/E ratio of -2.12 and a beta of 1.59. The business has a 50 day simple moving average of $3.59 and a 200-day simple moving average of $3.52. Rapid Micro Biosystems has a twelve month low of $1.86 and a twelve month high of $4.94.

Rapid Micro Biosystems (NASDAQ:RPID) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.05). Rapid Micro Biosystems had a negative net margin of 140.30% and a negative return on equity of 95.40%. The business had revenue of $11.28 million during the quarter, compared to analysts’ expectations of $10.93 million. As a group, equities analysts anticipate that Rapid Micro Biosystems will post -1.1 EPS for the current year.

Insider Activity

In other Rapid Micro Biosystems news, major shareholder Longitude Capital Partners Ii, sold 49,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $3.88, for a total value of $190,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John J. Addington Wilson sold 9,603 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $4.32, for a total value of $41,484.96. Following the transaction, the chief operating officer directly owned 316,762 shares in the company, valued at approximately $1,368,411.84. This represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 249,705 shares of company stock valued at $1,021,364 over the last quarter. Insiders own 29.96% of the company’s stock.

Hedge Funds Weigh In On Rapid Micro Biosystems

Large investors have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP purchased a new stake in shares of Rapid Micro Biosystems during the 3rd quarter valued at about $38,000. American Century Companies Inc. grew its stake in Rapid Micro Biosystems by 46.1% in the second quarter. American Century Companies Inc. now owns 16,922 shares of the company’s stock worth $58,000 after purchasing an additional 5,341 shares in the last quarter. Fifth Lane Capital LP acquired a new position in Rapid Micro Biosystems in the fourth quarter worth about $51,000. OMERS ADMINISTRATION Corp bought a new stake in Rapid Micro Biosystems in the fourth quarter valued at about $71,000. Finally, Barclays PLC bought a new stake in Rapid Micro Biosystems in the fourth quarter valued at about $72,000. 52.60% of the stock is currently owned by hedge funds and other institutional investors.

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.