Evernest Financial Advisors LLC Purchases 307,510 Shares of Rapid Micro Biosystems, Inc. $RPID

Evernest Financial Advisors LLC boosted its position in Rapid Micro Biosystems, Inc. (NASDAQ:RPID) by 246.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 432,510 shares of the company’s stock after purchasing an additional 307,510 shares during the period. Evernest Financial Advisors LLC owned about 0.95% of Rapid Micro Biosystems worth $1,021,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC increased its position in Rapid Micro Biosystems by 1.6% during the second 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 during the last quarter. American Century Companies Inc. lifted its position in shares of Rapid Micro Biosystems by 46.1% in the second quarter. American Century Companies Inc. now owns 16,922 shares of the company’s stock valued at $58,000 after buying an additional 5,341 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Rapid Micro Biosystems during the 2nd quarter worth approximately $144,000. Vanguard Group Inc. boosted its stake in shares of Rapid Micro Biosystems by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 965,018 shares of the company’s stock worth $3,223,000 after acquiring an additional 60,655 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Rapid Micro Biosystems by 37.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 55,642 shares of the company’s stock worth $186,000 after acquiring an additional 15,255 shares during the last quarter. Institutional investors own 52.60% of the company’s stock.

Rapid Micro Biosystems Price Performance

Rapid Micro Biosystems stock opened at $2.01 on Tuesday. Rapid Micro Biosystems, Inc. has a 12 month low of $1.66 and a 12 month high of $4.94. The stock’s 50 day moving average is $1.96 and its 200-day moving average is $2.81. The company has a current ratio of 2.57, a quick ratio of 1.66 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $92.80 million, a price-to-earnings ratio of -1.79 and a beta of 1.46.

Rapid Micro Biosystems (NASDAQ:RPID) last announced its earnings results on Wednesday, May 13th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.06). The firm had revenue of $8.00 million for 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%. Equities research analysts expect that Rapid Micro Biosystems, Inc. will post -0.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research note on Tuesday, April 21st. Lake Street Capital reduced their price objective on shares of Rapid Micro Biosystems from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. KeyCorp decreased their price objective on shares of Rapid Micro Biosystems from $8.00 to $5.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Finally, Wall Street Zen raised shares of Rapid Micro Biosystems from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 31st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.00.

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.