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

Evernest Financial Advisors LLC boosted its holdings in Rapid Micro Biosystems, Inc. (NASDAQ:RPID) by 246.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 432,510 shares of the company’s stock after purchasing an additional 307,510 shares during the quarter. Evernest Financial Advisors LLC’s holdings in Rapid Micro Biosystems were worth $1,021,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC acquired a new position in shares of Rapid Micro Biosystems during the 4th quarter worth approximately $338,000. 683 Capital Management LLC acquired a new stake in shares of Rapid Micro Biosystems in the fourth quarter valued at approximately $350,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Rapid Micro Biosystems in the fourth quarter valued at approximately $71,000. Fifth Lane Capital LP bought a new stake in shares of Rapid Micro Biosystems in the fourth quarter valued at approximately $51,000. Finally, Barclays PLC bought a new stake in shares of Rapid Micro Biosystems in the fourth quarter valued at approximately $72,000. Institutional investors own 52.60% of the company’s stock.

Rapid Micro Biosystems Stock Performance

Shares of Rapid Micro Biosystems stock opened at $2.01 on Tuesday. 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 cap of $92.80 million, a PE ratio of -1.79 and a beta of 1.46. The company has a 50 day moving average of $1.96 and a 200-day moving average of $2.81. Rapid Micro Biosystems, Inc. has a 1-year low of $1.66 and a 1-year high of $4.94.

Rapid Micro Biosystems (NASDAQ:RPID) last announced 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). Rapid Micro Biosystems had a negative net margin of 145.81% and a negative return on equity of 131.52%. The firm had revenue of $8.00 million during the quarter, compared to the consensus estimate of $7.60 million. As a group, equities research analysts forecast that Rapid Micro Biosystems, Inc. will post -0.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RPID. Lake Street Capital lowered their price objective on 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. Wall Street Zen upgraded Rapid Micro Biosystems from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 31st. KeyCorp reduced 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, May 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rapid Micro Biosystems has a consensus rating of “Hold” and an average price target of $6.00.

Rapid Micro Biosystems 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.