Shares of Rubius Therapeutics Inc (NASDAQ:RUBY) saw unusually-strong trading volume on Friday . Approximately 2,834,366 shares changed hands during trading, an increase of 825% from the previous session’s volume of 306,401 shares.The stock last traded at $16.29 and had previously closed at $15.58.

A number of research analysts recently issued reports on the company. Morgan Stanley cut their price target on Rubius Therapeutics from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, December 19th. ValuEngine cut Rubius Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 21st. Finally, Zacks Investment Research raised Rubius Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Wednesday, January 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $30.00.

The company has a debt-to-equity ratio of 0.06, a current ratio of 25.78 and a quick ratio of 25.78.

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of Rubius Therapeutics by 22.7% in the fourth quarter. Geode Capital Management LLC now owns 198,537 shares of the company’s stock valued at $3,192,000 after buying an additional 36,692 shares during the last quarter. Norges Bank bought a new position in shares of Rubius Therapeutics in the fourth quarter valued at about $7,236,000. FMR LLC raised its holdings in shares of Rubius Therapeutics by 3.5% in the fourth quarter. FMR LLC now owns 6,446,068 shares of the company’s stock valued at $100,792,000 after buying an additional 219,304 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Rubius Therapeutics by 320.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,191 shares of the company’s stock valued at $116,000 after buying an additional 5,481 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Rubius Therapeutics by 601.5% in the fourth quarter. Bank of America Corp DE now owns 11,048 shares of the company’s stock valued at $178,000 after buying an additional 9,473 shares during the last quarter. 87.04% of the stock is owned by institutional investors and hedge funds.

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About Rubius Therapeutics (NASDAQ:RUBY)

Rubius Therapeutics, Inc focuses on the development of red cell therapeutics (RCTs) for the treatment of patients with severe diseases through its rubius erythrocyte design cellular therapy platform. The company is developing various RCTs, such as RTX-134 for treatment of classic and moderate phenylketonuria; RTX-Uricase/URAT1 for treatment of chronic refractory gout; RTX-CBS for treatment of homocystinuria; RTX-OxOx for the treatment of second-line hyperoxaluria; and RTX-ALAD for the treatment of acute intermittent porphyria.

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