Rapid Micro Biosystems (NASDAQ:RPID) Given New $5.00 Price Target at KeyCorp

Rapid Micro Biosystems (NASDAQ:RPID) had its price target dropped by equities researchers at KeyCorp from $8.00 to $5.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price indicates a potential upside of 147.04% from the company’s previous close.

RPID has been the subject of several other reports. Wall Street Zen downgraded Rapid Micro Biosystems from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Lake Street Capital dropped their target price on Rapid Micro Biosystems from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.00.

Rapid Micro Biosystems Price Performance

RPID stock traded up $0.00 during midday trading on Friday, reaching $2.02. The stock had a trading volume of 37,504 shares, compared to its average volume of 236,005. The company’s fifty day simple moving average is $2.27 and its 200 day simple moving average is $3.28. The company has a current ratio of 2.57, a quick ratio of 1.66 and a debt-to-equity ratio of 0.93. The company has a market cap of $93.45 million, a price-to-earnings ratio of -1.83 and a beta of 1.52. Rapid Micro Biosystems has a 52-week low of $1.86 and a 52-week high of $4.94.

Rapid Micro Biosystems (NASDAQ:RPID) last released its earnings results on Wednesday, May 13th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.06). The firm had revenue of $8.00 million during the quarter, compared to analyst estimates of $7.60 million. Rapid Micro Biosystems had a negative net margin of 145.81% and a negative return on equity of 131.52%. As a group, sell-side analysts predict that Rapid Micro Biosystems will post -0.94 earnings per share for the current fiscal year.

Insider Activity

In other news, COO John J. Addington Wilson sold 9,603 shares of Rapid Micro Biosystems stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $4.32, for a total value of $41,484.96. Following the completion of the transaction, the chief operating officer owned 316,762 shares in the company, valued at approximately $1,368,411.84. This trade represents a 2.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sean M. Wirtjes sold 7,480 shares of Rapid Micro Biosystems stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $4.32, for a total value of $32,313.60. Following the completion of the transaction, the chief financial officer owned 556,194 shares of the company’s stock, valued at $2,402,758.08. The trade was a 1.33% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 35,005 shares of company stock worth $147,458. 12.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rapid Micro Biosystems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Evernest Financial Advisors LLC lifted its stake 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 during the last quarter. Renaissance Technologies LLC lifted its stake in Rapid Micro Biosystems by 9.5% during the first quarter. Renaissance Technologies LLC now owns 126,617 shares of the company’s stock worth $287,000 after purchasing an additional 10,990 shares during the last quarter. Sei Investments Co. lifted its stake in Rapid Micro Biosystems by 204.2% during the first quarter. Sei Investments Co. now owns 284,816 shares of the company’s stock worth $647,000 after purchasing an additional 191,200 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Rapid Micro Biosystems by 55.9% during the first quarter. Dimensional Fund Advisors LP now owns 87,589 shares of the company’s stock worth $199,000 after purchasing an additional 31,407 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in 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.

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.