Insider Selling: Rapid Micro Biosystems (NASDAQ:RPID) CEO Sells 12,840 Shares of Stock

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) CEO Robert Jr. Spignesi sold 12,840 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $3.78, for a total value of $48,535.20. Following the completion of the sale, the chief executive officer owned 962,097 shares in the company, valued at approximately $3,636,726.66. The trade was a 1.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rapid Micro Biosystems Trading Up 8.8%

Shares of NASDAQ:RPID traded up $0.33 during trading on Tuesday, reaching $4.08. 306,371 shares of the company were exchanged, compared to its average volume of 371,737. The business’s fifty day simple moving average is $3.66 and its 200-day simple moving average is $3.39. The firm has a market capitalization of $180.83 million, a PE ratio of -4.04 and a beta of 1.38. Rapid Micro Biosystems, Inc. has a 12-month low of $1.86 and a 12-month high of $4.94. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.23 and a quick ratio of 2.95.

Rapid Micro Biosystems (NASDAQ:RPID) last announced its quarterly earnings results on Friday, November 7th. The company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). Rapid Micro Biosystems had a negative return on equity of 73.90% and a negative net margin of 145.11%.The firm had revenue of $7.84 million for the quarter, compared to analyst estimates of $7.60 million. On average, research analysts anticipate that Rapid Micro Biosystems, Inc. will post -1.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RPID shares. Wall Street Zen downgraded Rapid Micro Biosystems from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Rapid Micro Biosystems has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Hedge Funds Weigh In On Rapid Micro Biosystems

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Rapid Micro Biosystems by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 965,018 shares of the company’s stock worth $3,223,000 after acquiring an additional 60,655 shares in the last quarter. Geode Capital Management LLC raised its holdings in Rapid Micro Biosystems by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 217,568 shares of the company’s stock worth $631,000 after purchasing an additional 12,881 shares during the period. Evernest Financial Advisors LLC boosted its position in Rapid Micro Biosystems by 355.1% during the third quarter. Evernest Financial Advisors LLC now owns 200,234 shares of the company’s stock worth $669,000 after purchasing an additional 156,234 shares in the last quarter. Susquehanna International Group LLP grew its holdings in Rapid Micro Biosystems by 12.6% in the third 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 during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Rapid Micro Biosystems by 37.8% in the third quarter. Dimensional Fund Advisors LP now owns 55,642 shares of the company’s stock valued at $186,000 after buying an additional 15,255 shares in the last quarter. 52.60% of the stock is currently 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.