Rapid Micro Biosystems (NASDAQ:RPID) Coverage Initiated at Lake Street Capital

Key Points

• Lake Street Capital has initiated coverage on Rapid Micro Biosystems (NASDAQ: RPID) with a "buy" rating and a price target of $8.00, indicating a potential upside of 96.08% from the current price.
• The company recently reported a quarterly earnings beat, with EPS of ($0.26) outperforming the consensus estimate of ($0.27), along with revenues of $7.21 million exceeding expectations.
• In insider trading, CEO Robert G. Jr. Spignesi sold 11,881 shares at an average price of $3.32, reducing his stake in the company by 1.21%.

Stock analysts at Lake Street Capital initiated coverage on shares of Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) in a report issued on Monday. The firm set a "buy" rating and a $8.00 price target on the stock. Lake Street Capital's target price points to a potential upside of 96.08% from the company's current price.

Rapid Micro Biosystems Stock Performance

NASDAQ:RPID opened at $4.08 on Monday. The stock has a fifty day moving average price of $3.47 and a 200-day moving average price of $2.78. The company has a market cap of $178.83 million, a price-to-earnings ratio of -3.96 and a beta of 1.32. Rapid Micro Biosystems has a fifty-two week low of $0.66 and a fifty-two week high of $4.50.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($0.26) earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $6.63 million. Research analysts predict that Rapid Micro Biosystems will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling at Rapid Micro Biosystems

In related news, CEO Robert G. Jr. Spignesi sold 11,881 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $3.32, for a total transaction of $39,444.92. Following the completion of the sale, the chief executive officer directly owned 970,550 shares in the company, valued at $3,222,226. This represents a 1.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 57,443 shares of company stock worth $195,952. 29.96% of the stock is owned by corporate insiders.

Institutional Trading of Rapid Micro Biosystems

Several institutional investors and hedge funds have recently modified their holdings of RPID. American Century Companies Inc. acquired a new position in Rapid Micro Biosystems in the 1st quarter worth about $31,000. Legato Capital Management LLC acquired a new position in Rapid Micro Biosystems in the 1st quarter worth about $41,000. Millennium Management LLC increased its holdings in Rapid Micro Biosystems by 17.6% in the 4th quarter. Millennium Management LLC now owns 61,375 shares of the company's stock worth $55,000 after purchasing an additional 9,191 shares in the last quarter. Citadel Advisors LLC acquired a new position in Rapid Micro Biosystems in the 4th quarter worth about $65,000. Finally, Renaissance Technologies LLC increased its holdings in Rapid Micro Biosystems by 122.9% in the 4th quarter. Renaissance Technologies LLC now owns 183,087 shares of the company's stock worth $165,000 after purchasing an additional 100,942 shares in the last quarter. 52.60% of the stock is currently owned by institutional investors.

Rapid Micro Biosystems Company 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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