Rapid Micro Biosystems (NASDAQ:RPID) Upgraded to Hold at Wall Street Zen

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

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Rapid Micro Biosystems currently has a consensus rating of “Hold” and an average price target of $8.00.

Rapid Micro Biosystems Trading Up 2.6%

RPID opened at $3.91 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.23 and a quick ratio of 2.95. The company has a market cap of $173.29 million, a price-to-earnings ratio of -3.87 and a beta of 1.38. The firm has a 50 day simple moving average of $3.66 and a 200 day simple moving average of $3.40. Rapid Micro Biosystems has a fifty-two week low of $1.86 and a fifty-two week high of $4.94.

Insiders Place Their Bets

In related news, CEO Robert G. Jr. Spignesi sold 12,840 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Longitude Capital Partners Ii, sold 49,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $3.88, for a total value of $190,120.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 153,716 shares of company stock valued at $635,998. 29.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rapid Micro Biosystems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in Rapid Micro Biosystems in the 4th quarter worth $182,000. Jane Street Group LLC lifted its holdings in shares of Rapid Micro Biosystems by 176.1% in the fourth quarter. Jane Street Group LLC now owns 105,301 shares of the company’s stock valued at $305,000 after purchasing an additional 67,161 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Rapid Micro Biosystems by 4.9% during the fourth quarter. Renaissance Technologies LLC now owns 115,627 shares of the company’s stock worth $335,000 after buying an additional 5,440 shares during the period. Informed Momentum Co LLC bought a new position in shares of Rapid Micro Biosystems during the fourth quarter worth about $224,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Rapid Micro Biosystems in the 4th quarter valued at approximately $160,000. 52.60% of the stock is currently owned by institutional investors and hedge funds.

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.