Rapid Micro Biosystems (NASDAQ:RPID – Get Free Report) had its price objective lowered by equities researchers at KeyCorp from $8.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 147.04% from the company’s current price.
A number of other brokerages have also recently weighed in on RPID. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research note on Tuesday, April 21st. Lake Street Capital decreased their target price on shares of Rapid Micro Biosystems from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Finally, Wall Street Zen downgraded shares of Rapid Micro Biosystems from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.00.
View Our Latest Analysis on RPID
Rapid Micro Biosystems Stock Performance
Rapid Micro Biosystems (NASDAQ:RPID – Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.06). Rapid Micro Biosystems had a negative net margin of 145.81% and a negative return on equity of 131.52%. The firm had revenue of $8.00 million during the quarter, compared to analysts’ expectations of $7.60 million. As a group, equities analysts expect that Rapid Micro Biosystems will post -0.94 earnings per share for the current year.
Insider Transactions at Rapid Micro Biosystems
In other news, COO John J. Addington Wilson sold 9,603 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $4.32, for a total transaction of $41,484.96. Following the completion of the sale, the chief operating officer owned 316,762 shares in the company, valued at $1,368,411.84. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sean M. Wirtjes sold 7,480 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $4.32, for a total value of $32,313.60. Following the sale, the chief financial officer owned 556,194 shares of the company’s stock, valued at $2,402,758.08. This trade represents a 1.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 35,005 shares of company stock worth $147,458 over the last 90 days. 12.70% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Rapid Micro Biosystems
Large investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP purchased a new stake in shares of Rapid Micro Biosystems during the third quarter worth approximately $38,000. American Century Companies Inc. raised its stake in shares of Rapid Micro Biosystems by 46.1% during 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 during the last quarter. Fifth Lane Capital LP purchased a new stake in shares of Rapid Micro Biosystems during the fourth quarter worth approximately $51,000. Temasek Holdings Private Ltd purchased a new stake in shares of Rapid Micro Biosystems during the first quarter worth approximately $50,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Rapid Micro Biosystems during the fourth quarter worth approximately $71,000. Hedge funds and other institutional investors own 52.60% of the company’s stock.
Rapid Micro Biosystems Company Profile
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.
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