Rapid Micro Biosystems (NASDAQ:RPID) Shares Down 0.9% - What's Next?

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

Rapid Micro Biosystems Stock Performance

The business has a fifty day simple moving average of $3.31 and a 200 day simple moving average of $2.58. The stock has a market cap of $147.27 million, a price-to-earnings ratio of -3.26 and a beta of 1.32.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.01. The business had revenue of $7.21 million during the quarter, compared to the consensus estimate of $6.63 million. Rapid Micro Biosystems had a negative return on equity of 56.07% and a negative net margin of 151.22%. On average, equities research analysts anticipate that Rapid Micro Biosystems, Inc. will post -1.1 EPS for the current fiscal year.

Insider Activity

In other news, CEO Robert G. Jr. Spignesi sold 11,617 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $3.40, for a total value of $39,497.80. Following the transaction, the chief executive officer directly owned 944,015 shares of the company's stock, valued at approximately $3,209,651. This represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 33,688 shares of company stock valued at $116,967 in the last ninety days. 29.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapid Micro Biosystems

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. bought a new stake in Rapid Micro Biosystems in the first quarter worth $31,000. Legato Capital Management LLC bought a new stake in Rapid Micro Biosystems during the first quarter valued at about $41,000. Millennium Management LLC boosted its holdings 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 period. Essex Investment Management Co. LLC acquired a new position in shares of Rapid Micro Biosystems during the first quarter valued at about $166,000. Finally, Citadel Advisors LLC bought a new stake in shares of Rapid Micro Biosystems in the fourth quarter valued at about $65,000. 52.60% of the stock is owned by institutional investors and hedge funds.

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.