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

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

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Rapid Micro Biosystems currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Rapid Micro Biosystems Stock Performance

NASDAQ:RPID opened at $4.18 on Friday. The firm has a market capitalization of $185.26 million, a PE ratio of -4.14 and a beta of 1.36. The stock’s fifty day moving average is $3.62 and its 200 day moving average is $3.31. Rapid Micro Biosystems has a fifty-two week low of $1.10 and a fifty-two week high of $4.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.95 and a current ratio of 4.23.

Rapid Micro Biosystems (NASDAQ:RPID) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.26) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.26). Rapid Micro Biosystems had a negative net margin of 145.11% and a negative return on equity of 73.90%. The business had revenue of $7.84 million for the quarter, compared to analysts’ expectations of $7.60 million. On average, sell-side analysts anticipate that Rapid Micro Biosystems will post -1.1 earnings per share for the current year.

Hedge Funds Weigh In On Rapid Micro Biosystems

A number of hedge funds have recently added to or reduced their stakes in RPID. Hudson Bay Capital Management LP purchased a new position in shares of Rapid Micro Biosystems during the third quarter worth approximately $38,000. American Century Companies Inc. grew its stake 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 worth $58,000 after purchasing an additional 5,341 shares in the last quarter. XTX Topco Ltd purchased a new position in Rapid Micro Biosystems during the 2nd quarter worth $144,000. Dimensional Fund Advisors LP raised its position in Rapid Micro Biosystems by 37.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 55,642 shares of the company’s stock valued at $186,000 after purchasing an additional 15,255 shares in the last quarter. Finally, Susquehanna International Group LLP raised its position in Rapid Micro Biosystems by 12.6% during the 3rd quarter. Susquehanna International Group LLP now owns 58,387 shares of the company’s stock valued at $195,000 after purchasing an additional 6,528 shares in the last quarter. 52.60% of the stock is currently owned by institutional investors.

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.