Rapid Micro Biosystems (NASDAQ:RPID) Rating Increased to Sell at Wall Street Zen

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

RPID has been the topic of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapid Micro Biosystems in a report on Tuesday, April 21st. KeyCorp dropped their target price on Rapid Micro Biosystems from $8.00 to $5.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Lake Street Capital dropped their target price on Rapid Micro Biosystems from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rapid Micro Biosystems has an average rating of “Hold” and a consensus price target of $6.00.

Rapid Micro Biosystems Stock Performance

Shares of RPID stock opened at $2.01 on Friday. Rapid Micro Biosystems has a 12-month low of $1.86 and a 12-month high of $4.94. The firm has a market capitalization of $92.80 million, a price-to-earnings ratio of -1.79 and a beta of 1.52. The business has a 50 day simple moving average of $2.26 and a 200 day simple moving average of $3.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.57 and a quick ratio of 1.66.

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

Insider Activity at Rapid Micro Biosystems

In related news, CEO Robert G. Jr. Spignesi sold 17,922 shares of the company’s stock in a transaction that occurred 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 owned 1,169,848 shares in the company, valued at approximately $4,808,075.28. This represents a 1.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean M. Wirtjes sold 7,480 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $4.32, for a total transaction of $32,313.60. Following the completion of the sale, the chief financial officer owned 556,194 shares of the company’s stock, valued at approximately $2,402,758.08. This trade represents a 1.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 35,005 shares of company stock valued at $147,458 over the last ninety days. Insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Rapid Micro Biosystems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Rapid Micro Biosystems by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 204,079 shares of the company’s stock worth $704,000 after buying an additional 3,143 shares in the last quarter. American Century Companies Inc. increased its stake 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 last quarter. Renaissance Technologies LLC increased its stake in shares of Rapid Micro Biosystems by 4.9% during the 4th quarter. Renaissance Technologies LLC now owns 115,627 shares of the company’s stock worth $335,000 after purchasing an additional 5,440 shares during the last quarter. Susquehanna International Group LLP increased its stake in shares of Rapid Micro Biosystems by 12.6% during the 3rd quarter. Susquehanna International Group LLP now owns 58,387 shares of the company’s stock worth $195,000 after purchasing an additional 6,528 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Rapid Micro Biosystems during the 3rd quarter worth $38,000. Hedge funds and other 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.