Rapid Micro Biosystems (NASDAQ:RPID) Raised to Hold at Wall Street Zen

Rapid Micro Biosystems (NASDAQ:RPID) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

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

Rapid Micro Biosystems Stock Down 6.0%

RPID stock opened at $2.35 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 firm has a 50-day moving average of $3.92 and a two-hundred day moving average of $3.55. Rapid Micro Biosystems has a 12 month low of $1.86 and a 12 month high of $4.94. The company has a market cap of $104.16 million, a price-to-earnings ratio of -2.20 and a beta of 1.38.

Rapid Micro Biosystems (NASDAQ:RPID) last issued its earnings results on Thursday, March 12th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.05). The company had revenue of $11.28 million for the quarter, compared to analyst estimates of $10.93 million. Rapid Micro Biosystems had a negative return on equity of 95.40% and a negative net margin of 140.30%. As a group, analysts forecast that Rapid Micro Biosystems will post -1.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Robert G. Jr. Spignesi sold 38,327 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $3.89, for a total value of $149,092.03. Following the completion of the sale, the chief executive officer owned 1,187,770 shares of the company’s stock, valued at $4,620,425.30. This represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO John J. Addington Wilson sold 9,603 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $4.32, for a total transaction of $41,484.96. Following the sale, the chief operating officer owned 316,762 shares of the company’s stock, valued at $1,368,411.84. This represents a 2.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 249,705 shares of company stock valued at $1,021,364. Company insiders own 29.96% of the company’s stock.

Institutional Investors Weigh In On Rapid Micro Biosystems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RPID. Hudson Bay Capital Management LP purchased a new stake in Rapid Micro Biosystems in the third quarter valued at $38,000. Fifth Lane Capital LP purchased a new position in shares of Rapid Micro Biosystems during the 4th quarter worth $51,000. American Century Companies Inc. grew its holdings in shares of Rapid Micro Biosystems by 46.1% during the 2nd 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 during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of Rapid Micro Biosystems during the 4th quarter worth about $71,000. Finally, Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Rapid Micro Biosystems during the 4th quarter worth about $72,000. Institutional investors and hedge funds own 52.60% of the company’s stock.

Rapid Micro Biosystems Company Profile

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.