Rapid Micro Biosystems (NASDAQ:RPID) Upgraded by Wall Street Zen to “Hold” Rating

Rapid Micro Biosystems (NASDAQ:RPID) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, Lake Street Capital assumed coverage on shares of Rapid Micro Biosystems in a research note on Monday, July 28th. They set a “buy” rating and a $8.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, Rapid Micro Biosystems presently has an average rating of “Strong Buy” and an average target price of $8.00.

Rapid Micro Biosystems Price Performance

Shares of NASDAQ:RPID opened at $3.03 on Friday. The firm has a 50 day simple moving average of $3.11 and a 200 day simple moving average of $2.93. The company has a market cap of $133.96 million, a price-to-earnings ratio of -3.00 and a beta of 1.29. Rapid Micro Biosystems has a one year low of $0.83 and a one year high of $4.50.

Rapid Micro Biosystems (NASDAQ:RPID) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.01). The business had revenue of $7.26 million for the quarter, compared to the consensus estimate of $7.10 million. Rapid Micro Biosystems had a negative net margin of 145.63% and a negative return on equity of 63.07%. Rapid Micro Biosystems has set its FY 2025 guidance at EPS. As a group, analysts expect that Rapid Micro Biosystems will post -1.1 EPS for the current year.

Insider Buying and Selling at Rapid Micro Biosystems

In other news, CEO Robert G. Jr. Spignesi sold 11,881 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $3.32, for a total transaction of $39,444.92. Following the completion of the sale, the chief executive officer directly owned 970,550 shares in the company, valued at $3,222,226. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 57,443 shares of company stock worth $195,952 in the last ninety days. Corporate insiders own 29.96% of the company’s stock.

Institutional Investors Weigh In On Rapid Micro Biosystems

Large investors have recently modified their holdings of the company. American Century Companies Inc. acquired a new stake in shares of Rapid Micro Biosystems during the first quarter worth $31,000. Legato Capital Management LLC acquired a new stake in shares of Rapid Micro Biosystems during the first quarter worth $41,000. Millennium Management LLC increased its position in shares of Rapid Micro Biosystems by 17.6% during the fourth quarter. Millennium Management LLC now owns 61,375 shares of the company’s stock worth $55,000 after buying an additional 9,191 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Rapid Micro Biosystems during the fourth quarter worth $65,000. Finally, XTX Topco Ltd acquired a new stake in shares of Rapid Micro Biosystems during the second quarter worth $144,000. 52.60% of the stock is currently owned by institutional investors and hedge funds.

Rapid Micro Biosystems Company Profile

Rapid Micro Biosystems, Inc, a life sciences technology company, provides products for the detection of microbial contamination in the manufacture of pharmaceutical, medical devices, and personal care products in the United States, Germany, Switzerland, Japan, and internationally. The company offers Growth Direct platform, which includes Growth Direct system, proprietary consumables, lab information management system connection software, and customer support and validation services.