Rapid Micro Biosystems (NASDAQ:RPID) Shares Up 3.6% - Still a Buy?

Rapid Micro Biosystems, Inc. (NASDAQ:RPID - Get Free Report)'s stock price was up 3.6% during mid-day trading on Monday . The company traded as high as $3.50 and last traded at $3.45. Approximately 71,484 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 191,102 shares. The stock had previously closed at $3.33.

Analyst Ratings Changes

Separately, KeyCorp assumed coverage on shares of Rapid Micro Biosystems in a research note on Wednesday, February 12th. They set an "overweight" rating and a $8.00 price target on the stock.

Rapid Micro Biosystems Price Performance

The stock has a market cap of $160.86 million, a price-to-earnings ratio of -3.28 and a beta of 1.33. The stock's 50-day moving average is $2.71 and its 200-day moving average is $2.15.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.01. The company had revenue of $7.21 million for the quarter, compared to analyst estimates of $6.63 million. Rapid Micro Biosystems had a negative return on equity of 48.05% and a negative net margin of 184.93%. Analysts predict that Rapid Micro Biosystems, Inc. will post -1.1 EPS for the current fiscal year.

Institutional Trading of Rapid Micro Biosystems

A number of hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. purchased a new position in shares of Rapid Micro Biosystems during the 1st quarter worth about $31,000. Legato Capital Management LLC purchased a new stake in Rapid Micro Biosystems in the first quarter valued at approximately $41,000. Millennium Management LLC increased 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 worth $55,000 after purchasing an additional 9,191 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in Rapid Micro Biosystems during the first quarter worth approximately $166,000. Finally, Citadel Advisors LLC purchased a new position in Rapid Micro Biosystems during the fourth quarter worth approximately $65,000. 52.60% of the stock is owned by institutional investors and hedge funds.

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.