Rapid Micro Biosystems (NASDAQ:RPID) Stock Price Down 0.9% - Here's Why

Rapid Micro Biosystems, Inc. (NASDAQ:RPID - Get Free Report) shares were down 0.9% during mid-day trading on Wednesday . The stock traded as low as $3.44 and last traded at $3.47. Approximately 77,040 shares were traded during 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 Price Performance

The company's fifty day simple moving average is $3.27 and its 200-day simple moving average is $2.54. The firm has a market capitalization of $152.09 million, a PE ratio of -3.37 and a beta of 1.32.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.01. The company had revenue of $7.21 million during the quarter, compared to the consensus estimate of $6.63 million. Rapid Micro Biosystems had a negative net margin of 151.22% and a negative return on equity of 56.07%. Analysts forecast that Rapid Micro Biosystems, Inc. will post -1.1 earnings per share for the current year.

Hedge Funds Weigh In On Rapid Micro Biosystems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in Rapid Micro Biosystems by 122.9% during the fourth quarter. Renaissance Technologies LLC now owns 183,087 shares of the company's stock worth $165,000 after buying an additional 100,942 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Rapid Micro Biosystems during the 4th quarter worth $65,000. Millennium Management LLC increased its holdings in shares of 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 acquiring an additional 9,191 shares during the last quarter. Legato Capital Management LLC acquired a new position in Rapid Micro Biosystems in the first quarter valued at approximately $41,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Rapid Micro Biosystems during the 1st quarter worth $166,000. Institutional investors and hedge funds 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.

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