Rapid Micro Biosystems (NASDAQ:RPID) Price Target Lowered to $5.00 at KeyCorp

Rapid Micro Biosystems (NASDAQ:RPID) had its price objective lowered by KeyCorp from $8.00 to $5.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also recently issued reports on RPID. Weiss Ratings restated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research report on Tuesday, April 21st. Wall Street Zen cut shares of Rapid Micro Biosystems from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Lake Street Capital cut their target price on shares of Rapid Micro Biosystems from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.00.

Rapid Micro Biosystems Stock Performance

Rapid Micro Biosystems stock opened at $2.01 on Friday. The firm’s fifty day moving average price is $2.26 and its 200-day moving average price is $3.27. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.66 and a current ratio of 2.57. The stock has a market cap of $92.80 million, a P/E ratio of -1.79 and a beta of 1.52. Rapid Micro Biosystems has a fifty-two week low of $1.86 and a fifty-two week high of $4.94.

Rapid Micro Biosystems (NASDAQ:RPID) last released its earnings results on Wednesday, May 13th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.06). Rapid Micro Biosystems had a negative net margin of 145.81% and a negative return on equity of 131.52%. The business had revenue of $8.00 million for the quarter, compared to the consensus estimate of $7.60 million. On average, equities research analysts expect that Rapid Micro Biosystems will post -0.94 earnings per share for the current fiscal year.

Insider Transactions at Rapid Micro Biosystems

In other news, CEO Robert G. Jr. Spignesi sold 17,922 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $4.11, for a total value of $73,659.42. Following the completion of the sale, the chief executive officer directly owned 1,169,848 shares of the company’s stock, valued at $4,808,075.28. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $41,484.96. Following the completion of the sale, the chief operating officer directly owned 316,762 shares of the company’s stock, valued at approximately $1,368,411.84. This trade represents a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,005 shares of company stock valued at $147,458 over the last three months. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Rapid Micro Biosystems

Several institutional investors have recently bought and sold shares of RPID. Hudson Bay Capital Management LP bought a new stake in shares of Rapid Micro Biosystems in the 3rd quarter worth about $38,000. American Century Companies Inc. lifted its holdings in shares of Rapid Micro Biosystems by 46.1% in the 2nd quarter. American Century Companies Inc. now owns 16,922 shares of the company’s stock worth $58,000 after acquiring an additional 5,341 shares during the last quarter. Fifth Lane Capital LP bought a new stake in shares of Rapid Micro Biosystems in the 4th quarter worth about $51,000. Temasek Holdings Private Ltd bought a new stake in shares of Rapid Micro Biosystems in the 1st quarter worth about $50,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Rapid Micro Biosystems during the 4th quarter valued at about $71,000. Institutional investors 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.