Rapid Micro Biosystems (NASDAQ:RPID) Trading Down 0.9% - Time to Sell?

Rapid Micro Biosystems, Inc. (NASDAQ:RPID - Get Free Report) shares traded down 0.9% on Wednesday . The stock traded as low as $3.44 and last traded at $3.47. 77,040 shares traded hands during trading, a decline of 61% from the average session volume of 196,769 shares. The stock had previously closed at $3.50.

Rapid Micro Biosystems Price Performance

The company has a market cap of $147.71 million, a P/E ratio of -3.27 and a beta of 1.32. The stock's 50-day moving average is $3.27 and its two-hundred day moving average is $2.54.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $6.63 million. On average, analysts predict that Rapid Micro Biosystems, Inc. will post -1.1 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. bought a new position in shares of Rapid Micro Biosystems during the 1st quarter valued at approximately $31,000. Legato Capital Management LLC bought a new position in shares of Rapid Micro Biosystems during the 1st quarter valued at approximately $41,000. Millennium Management LLC grew its stake in shares of Rapid Micro Biosystems by 17.6% during the 4th 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 period. Citadel Advisors LLC bought a new stake in shares of Rapid Micro Biosystems during the 4th quarter valued at $65,000. Finally, Renaissance Technologies LLC raised its position in shares of Rapid Micro Biosystems by 122.9% during the 4th quarter. Renaissance Technologies LLC now owns 183,087 shares of the company's stock valued at $165,000 after purchasing an additional 100,942 shares during the period. 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.