Rapid Micro Biosystems (NASDAQ:RPID) Announces Quarterly Earnings Results

Rapid Micro Biosystems (NASDAQ:RPID) released its quarterly earnings data on Wednesday. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.06), Zacks reports. Rapid Micro Biosystems had a negative net margin of 140.30% and a negative return on equity of 95.40%. The business had revenue of $8.00 million during the quarter, compared to the consensus estimate of $7.60 million.

Rapid Micro Biosystems Stock Performance

Rapid Micro Biosystems stock traded down $0.10 during midday trading on Wednesday, hitting $2.48. The company’s stock had a trading volume of 134,831 shares, compared to its average volume of 239,027. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.31 and a quick ratio of 2.36. The company has a market cap of $112.74 million, a price-to-earnings ratio of -2.32 and a beta of 1.52. Rapid Micro Biosystems has a 1-year low of $2.01 and a 1-year high of $4.94. The company has a 50-day moving average price of $2.70 and a two-hundred day moving average price of $3.35.

Insiders Place Their Bets

In other news, COO John J. Addington Wilson sold 9,603 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $4.32, for a total transaction of $41,484.96. Following the transaction, the chief operating officer directly owned 316,762 shares of the company’s stock, valued at approximately $1,368,411.84. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert G. Jr. Spignesi sold 38,327 shares of Rapid Micro Biosystems stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $3.89, for a total transaction of $149,092.03. Following the completion of the sale, the chief executive officer owned 1,187,770 shares of the company’s stock, valued at approximately $4,620,425.30. The trade was a 3.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 95,989 shares of company stock worth $385,365 in the last quarter. Corporate insiders own 12.70% of the company’s stock.

Institutional Trading of Rapid Micro Biosystems

A number of institutional investors have recently modified their holdings of RPID. Millennium Management LLC bought a new position in shares of Rapid Micro Biosystems in the fourth quarter worth $338,000. 683 Capital Management LLC bought a new stake in Rapid Micro Biosystems during the fourth quarter worth about $350,000. OMERS ADMINISTRATION Corp acquired a new stake in Rapid Micro Biosystems during the fourth quarter worth about $71,000. Barclays PLC bought a new position in Rapid Micro Biosystems in the 4th quarter valued at about $72,000. Finally, Marshall Wace LLP bought a new position in Rapid Micro Biosystems in the 4th quarter valued at about $182,000. 52.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RPID shares. Weiss Ratings restated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of Rapid Micro Biosystems from a “hold” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.00.

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.