Informed Momentum Co LLC Takes Position in Rapid Micro Biosystems, Inc. (NASDAQ:RPID)

Key Points

• Informed Momentum Co LLC acquired a new stake in Rapid Micro Biosystems, purchasing 176,949 shares valued at approximately $467,000 during the first quarter.
• Rapid Micro Biosystems stock has seen a significant rise, up 8.6%, and has a market capitalization of $127.55 million, with a 12-month trading range between $0.80 and $4.50.
• The company reported an EPS of ($0.27) for the last quarter, missing expectations, but achieved revenue of $7.26 million, slightly above estimates.

Informed Momentum Co LLC purchased a new stake in shares of Rapid Micro Biosystems, Inc. (NASDAQ:RPID - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 176,949 shares of the company's stock, valued at approximately $467,000. Informed Momentum Co LLC owned 0.41% of Rapid Micro Biosystems at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Legato Capital Management LLC acquired a new position in Rapid Micro Biosystems in the 1st quarter valued at approximately $41,000. Millennium Management LLC increased its stake in Rapid Micro Biosystems by 17.6% in the 4th quarter. Millennium Management LLC now owns 61,375 shares of the company's stock valued at $55,000 after buying an additional 9,191 shares during the period. Citadel Advisors LLC acquired a new position in Rapid Micro Biosystems in the 4th quarter valued at approximately $65,000. Renaissance Technologies LLC increased its stake in Rapid Micro Biosystems by 122.9% in the 4th quarter. Renaissance Technologies LLC now owns 183,087 shares of the company's stock valued at $165,000 after buying an additional 100,942 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new position in Rapid Micro Biosystems in the 1st quarter valued at approximately $166,000. Institutional investors and hedge funds own 52.60% of the company's stock.

Rapid Micro Biosystems Stock Up 8.6%

RPID stock opened at $2.91 on Thursday. The company has a market capitalization of $127.55 million, a price-to-earnings ratio of -2.88 and a beta of 1.32. Rapid Micro Biosystems, Inc. has a 12 month low of $0.80 and a 12 month high of $4.50. The firm has a 50 day moving average of $3.49 and a two-hundred day moving average of $2.95.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.01). The business had revenue of $7.26 million during the quarter, compared to the consensus estimate of $7.10 million. Rapid Micro Biosystems had a negative return on equity of 58.76% and a negative net margin of 145.63%. On average, research analysts expect that Rapid Micro Biosystems, Inc. will post -1.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Lake Street Capital started coverage on shares of Rapid Micro Biosystems in a research note on Monday, July 28th. They issued a "buy" rating and a $8.00 price objective on the stock.

Insider Buying and Selling

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 shares were sold at an average price of $3.32, for a total value of $39,444.92. Following the completion of the sale, the chief executive officer directly owned 970,550 shares of the company's stock, valued at $3,222,226. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 57,443 shares of company stock valued at $195,952 over the last ninety days. Insiders own 29.96% of the company's 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.

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