131,265 Shares in Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Bought by Evernest Financial Advisors LLC

Key Points

• Evernest Financial Advisors LLC acquired a new stake in Rapid Micro Biosystems, purchasing 131,265 shares valued at about $347,000, which represents 0.30% of the company's stock.
• Rapid Micro Biosystems reported earnings of ($0.26) EPS for the latest quarter, exceeding analyst expectations of ($0.27), with revenues of $7.21 million.
• Lake Street Capital initiated coverage on Rapid Micro Biosystems with a "buy" rating and set a target price of $8.00 per share.

Evernest Financial Advisors LLC bought a new stake in Rapid Micro Biosystems, Inc. (NASDAQ:RPID - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 131,265 shares of the company's stock, valued at approximately $347,000. Evernest Financial Advisors LLC owned about 0.30% of Rapid Micro Biosystems as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC grew its holdings in shares of Rapid Micro Biosystems by 17.6% during the fourth quarter. Millennium Management LLC now owns 61,375 shares of the company's stock worth $55,000 after purchasing an additional 9,191 shares during the last quarter. Citadel Advisors LLC bought a new stake in Rapid Micro Biosystems in the fourth quarter valued at approximately $65,000. Renaissance Technologies LLC boosted its holdings in Rapid Micro Biosystems by 122.9% in the fourth quarter. Renaissance Technologies LLC now owns 183,087 shares of the company's stock valued at $165,000 after acquiring an additional 100,942 shares during the last quarter. Legato Capital Management LLC bought a new stake in Rapid Micro Biosystems in the first quarter valued at approximately $41,000. Finally, Essex Investment Management Co. LLC bought a new stake in Rapid Micro Biosystems in the first quarter valued at approximately $166,000. Institutional investors own 52.60% of the company's stock.

Rapid Micro Biosystems Stock Up 1.5%

RPID traded up $0.05 during trading on Friday, hitting $3.40. The company's stock had a trading volume of 34,535 shares, compared to its average volume of 101,466. Rapid Micro Biosystems, Inc. has a twelve month low of $0.78 and a twelve month high of $4.50. The stock's fifty day moving average price is $3.52 and its 200-day moving average price is $2.92. The firm has a market capitalization of $149.02 million, a P/E ratio of -3.30 and a beta of 1.32.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.01. Rapid Micro Biosystems had a negative return on equity of 56.07% and a negative net margin of 151.22%. The firm had revenue of $7.21 million for the quarter, compared to analyst estimates of $6.63 million. Equities research analysts expect that Rapid Micro Biosystems, Inc. will post -1.1 EPS for the current fiscal year.

Insider Transactions at Rapid Micro Biosystems

In other Rapid Micro Biosystems news, CEO Robert G. Jr. Spignesi sold 11,881 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $3.32, for a total value of $39,444.92. Following the transaction, the chief executive officer directly owned 970,550 shares of the company's stock, valued at approximately $3,222,226. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 57,443 shares of company stock valued at $195,952 over the last quarter. 29.96% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital began coverage on Rapid Micro Biosystems in a report on Monday, July 28th. They issued a "buy" rating and a $8.00 target price on the stock.

Rapid Micro Biosystems 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.