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

Rapid Micro Biosystems (NASDAQ:RPID) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research report on Wednesday, October 8th. One 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.00.

Rapid Micro Biosystems Trading Down 3.9%

RPID opened at $2.98 on Friday. The firm’s 50 day moving average is $3.53 and its 200-day moving average is $3.34. Rapid Micro Biosystems has a 52-week low of $0.87 and a 52-week high of $4.50. The company has a quick ratio of 2.95, a current ratio of 4.23 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $132.07 million, a P/E ratio of -2.95 and a beta of 1.33.

Rapid Micro Biosystems (NASDAQ:RPID) last announced its earnings results on Friday, November 7th. The company reported ($0.26) earnings per share for the quarter, meeting the consensus estimate of ($0.26). Rapid Micro Biosystems had a negative net margin of 145.11% and a negative return on equity of 73.90%. The business had revenue of $7.84 million during the quarter, compared to the consensus estimate of $7.60 million. Analysts expect that Rapid Micro Biosystems will post -1.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Rapid Micro Biosystems

Several institutional investors and hedge funds have recently made changes to their positions in RPID. American Century Companies Inc. bought a new position in Rapid Micro Biosystems during the first quarter worth $31,000. OMERS ADMINISTRATION Corp bought a new stake in Rapid Micro Biosystems during the first quarter valued at $289,000. ABG WTT Global Life Science Capital Partners GP Ltd raised its holdings in shares of Rapid Micro Biosystems by 78.0% during the first quarter. ABG WTT Global Life Science Capital Partners GP Ltd now owns 1,848,296 shares of the company’s stock worth $4,880,000 after purchasing an additional 810,000 shares during the period. Parkman Healthcare Partners LLC bought a new position in shares of Rapid Micro Biosystems in the 1st quarter worth about $1,942,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Rapid Micro Biosystems by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 204,079 shares of the company’s stock valued at $704,000 after buying an additional 3,143 shares during the period. 52.60% of the stock is owned by institutional investors and hedge funds.

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.