Rapid Micro Biosystems, Inc. (NASDAQ:RPID) CEO Sells $39,497.80 in Stock

Rapid Micro Biosystems, Inc. (NASDAQ:RPID - Get Free Report) CEO Robert G. Jr. Spignesi sold 11,617 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $3.40, for a total transaction of $39,497.80. Following the completion of the transaction, the chief executive officer owned 944,015 shares in the company, valued at $3,209,651. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rapid Micro Biosystems Trading Down 0.3%

Shares of RPID traded down $0.01 during mid-day trading on Friday, hitting $3.36. The company's stock had a trading volume of 58,625 shares, compared to its average volume of 196,379. The company's 50-day moving average is $3.29 and its 200-day moving average is $2.55. Rapid Micro Biosystems, Inc. has a 52-week low of $0.63 and a 52-week high of $4.04. The firm has a market capitalization of $147.28 million, a price-to-earnings ratio of -3.26 and a beta of 1.32.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.01. Rapid Micro Biosystems had a negative net margin of 151.22% and a negative return on equity of 56.07%. The firm had revenue of $7.21 million during the quarter, compared to analysts' expectations of $6.63 million. As a group, sell-side analysts predict that Rapid Micro Biosystems, Inc. will post -1.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapid Micro Biosystems

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC lifted its position in Rapid Micro Biosystems by 17.6% during the fourth quarter. Millennium Management LLC now owns 61,375 shares of the company's stock valued at $55,000 after acquiring an additional 9,191 shares during the last quarter. American Century Companies Inc. purchased a new stake in Rapid Micro Biosystems during the first quarter valued at approximately $31,000. Legato Capital Management LLC purchased a new stake in Rapid Micro Biosystems during the first quarter valued at approximately $41,000. Essex Investment Management Co. LLC purchased a new stake in Rapid Micro Biosystems during the first quarter valued at approximately $166,000. Finally, Citadel Advisors LLC purchased a new stake in Rapid Micro Biosystems during the fourth quarter valued at approximately $65,000. Hedge funds and other institutional investors own 52.60% of the company's stock.

About Rapid Micro Biosystems

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.