KeyCorp Initiates Coverage on Rapid Micro Biosystems (NASDAQ:RPID)

Analysts at KeyCorp started coverage on shares of Rapid Micro Biosystems (NASDAQ:RPID) in a report released on Wednesday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $8.00 price target on the stock. KeyCorp’s price target would indicate a potential upside of 124.09% from the stock’s previous close.

Rapid Micro Biosystems Stock Performance

Shares of NASDAQ:RPID opened at $3.57 on Wednesday. The business’s 50 day simple moving average is $1.45 and its two-hundred day simple moving average is $1.11. The firm has a market cap of $153.62 million, a P/E ratio of -3.19 and a beta of 1.26. Rapid Micro Biosystems has a 52-week low of $0.58 and a 52-week high of $3.75.

Institutional Trading of Rapid Micro Biosystems

A hedge fund recently raised its stake in Rapid Micro Biosystems stock. Renaissance Technologies LLC lifted its holdings in shares of Rapid Micro Biosystems, Inc. (NASDAQ:RPID) by 122.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 183,087 shares of the company’s stock after acquiring an additional 100,942 shares during the quarter. Renaissance Technologies LLC owned 0.43% of Rapid Micro Biosystems worth $165,000 at the end of the most recent quarter. Institutional investors own 52.60% of the company’s stock.

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.