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

Wall Street Zen downgraded shares of Rapid Micro Biosystems (NASDAQ:RPID) from a hold rating to a sell rating in a research report released on Saturday morning.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Rapid Micro Biosystems in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rapid Micro Biosystems has a consensus rating of “Hold” and a consensus target price of $8.00.

Rapid Micro Biosystems Stock Performance

Shares of RPID opened at $2.97 on Friday. The firm has a market capitalization of $131.63 million, a PE ratio of -2.78 and a beta of 1.38. The company has a quick ratio of 2.36, a current ratio of 3.31 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $3.97 and a 200 day moving average price of $3.55. Rapid Micro Biosystems has a 52-week low of $1.86 and a 52-week high of $4.94.

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

Insider Activity at Rapid Micro Biosystems

In related news, major shareholder Longitude Capital Partners Ii, sold 49,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $3.88, for a total value of $190,120.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean M. Wirtjes sold 17,254 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $3.92, for a total transaction of $67,635.68. Following the transaction, the chief financial officer directly owned 563,674 shares of the company’s stock, valued at approximately $2,209,602.08. This represents a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 249,705 shares of company stock valued at $1,021,364. Company insiders own 29.96% of the company’s stock.

Hedge Funds Weigh In On Rapid Micro Biosystems

Hedge funds have recently modified their holdings of the stock. Hudson Bay Capital Management LP acquired a new position in Rapid Micro Biosystems during the third quarter worth $38,000. American Century Companies Inc. boosted its position in 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 in the last quarter. Fifth Lane Capital LP bought a new stake in Rapid Micro Biosystems during the fourth quarter worth about $51,000. OMERS ADMINISTRATION Corp bought a new stake in Rapid Micro Biosystems during the 4th quarter worth approximately $71,000. Finally, Barclays PLC bought a new stake in Rapid Micro Biosystems during the 4th quarter worth approximately $72,000. 52.60% of the stock is owned by institutional investors and hedge funds.

About Rapid Micro Biosystems

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.