Longitude Capital Partners Ii, Sells 27,500 Shares of Rapid Micro Biosystems (NASDAQ:RPID) Stock

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) major shareholder Longitude Capital Partners Ii, sold 27,500 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $4.25, for a total transaction of $116,875.00. Following the completion of the transaction, the insider directly owned 76,500 shares of the company’s stock, valued at approximately $325,125. The trade was a 26.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Longitude Capital Partners Ii, also recently made the following trade(s):

• On Friday, January 30th, Longitude Capital Partners Ii, sold 46,000 shares of Rapid Micro Biosystems stock. The stock was sold at an average price of $4.54, for a total value of $208,840.00.
• On Friday, January 23rd, Longitude Capital Partners Ii, sold 7,739 shares of Rapid Micro Biosystems stock. The stock was sold at an average price of $4.06, for a total value of $31,420.34.

Rapid Micro Biosystems Stock Up 3.8%

RPID traded up $0.16 on Tuesday, reaching $4.35. The company’s stock had a trading volume of 191,250 shares, compared to its average volume of 381,045. The stock has a market cap of $192.79 million, a price-to-earnings ratio of -4.31 and a beta of 1.38. Rapid Micro Biosystems, Inc. has a 1 year low of $1.86 and a 1 year 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. The business’s 50 day moving average is $3.69 and its 200 day moving average is $3.39.

Rapid Micro Biosystems (NASDAQ:RPID) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, hitting 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 company had revenue of $7.84 million for the quarter, compared to the consensus estimate of $7.60 million. As a group, research analysts forecast that Rapid Micro Biosystems, Inc. will post -1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Rapid Micro Biosystems

A number of hedge funds have recently added to or reduced their stakes in RPID. Geode Capital Management LLC raised its holdings in shares of Rapid Micro Biosystems by 1.6% during the second quarter. Geode Capital Management LLC now owns 204,079 shares of the company’s stock worth $704,000 after purchasing an additional 3,143 shares during the period. American Century Companies Inc. grew its position in shares of Rapid Micro Biosystems by 46.1% during the 2nd quarter. American Century Companies Inc. now owns 16,922 shares of the company’s stock valued at $58,000 after buying an additional 5,341 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Rapid Micro Biosystems during the 2nd quarter valued at about $144,000. Vanguard Group Inc. raised its stake in Rapid Micro Biosystems by 6.7% during the third 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 during the period. Finally, Evernest Financial Advisors LLC lifted its holdings in Rapid Micro Biosystems by 355.1% in the third quarter. Evernest Financial Advisors LLC now owns 200,234 shares of the company’s stock worth $669,000 after acquiring an additional 156,234 shares during the last quarter. Institutional investors and hedge funds own 52.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wall Street Zen downgraded shares of Rapid Micro Biosystems from a “hold” rating to a “sell” rating in a research note 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.00.

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.