Insider Selling: Rapid Micro Biosystems (NASDAQ:RPID) Major Shareholder Sells 46,000 Shares of Stock

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) major shareholder Longitude Capital Partners Ii, sold 46,000 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $4.54, for a total transaction of $208,840.00. Following the completion of the sale, the insider owned 104,000 shares in the company, valued at $472,160. The trade was a 30.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Longitude Capital Partners Ii, also recently made the following trade(s):

• On Monday, February 2nd, Longitude Capital Partners Ii, sold 27,500 shares of Rapid Micro Biosystems stock. The stock was sold at an average price of $4.25, for a total transaction of $116,875.00.
• On Friday, January 23rd, Longitude Capital Partners Ii, sold 7,739 shares of Rapid Micro Biosystems stock. The shares were sold at an average price of $4.06, for a total value of $31,420.34.

Rapid Micro Biosystems Stock Up 3.8%

Rapid Micro Biosystems stock traded up $0.16 during midday trading on Tuesday, reaching $4.35. The company’s stock had a trading volume of 191,250 shares, compared to its average volume of 381,045. The company has a market cap of $192.79 million, a P/E ratio of -4.31 and a beta of 1.38. The company has a quick ratio of 2.95, a current ratio of 4.23 and a debt-to-equity ratio of 0.42. The business has a 50-day simple moving average of $3.69 and a 200-day simple moving average of $3.39. Rapid Micro Biosystems, Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $4.94.

Rapid Micro Biosystems (NASDAQ:RPID) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). Rapid Micro Biosystems had a negative return on equity of 73.90% and a negative net margin of 145.11%.The business had revenue of $7.84 million during the quarter, compared to analysts’ expectations of $7.60 million. On average, research analysts expect that Rapid Micro Biosystems, Inc. will post -1.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RPID. Wall Street Zen downgraded shares of Rapid Micro Biosystems from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.00.

Institutional Trading of Rapid Micro Biosystems

Large investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP purchased a new position in Rapid Micro Biosystems during the 3rd quarter worth $38,000. American Century Companies Inc. boosted its stake in shares of Rapid Micro Biosystems by 46.1% during the second quarter. American Century Companies Inc. now owns 16,922 shares of the company’s stock worth $58,000 after buying an additional 5,341 shares during the period. XTX Topco Ltd purchased a new position in shares of Rapid Micro Biosystems during the second quarter worth about $144,000. Dimensional Fund Advisors LP increased its position in Rapid Micro Biosystems by 37.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 55,642 shares of the company’s stock valued at $186,000 after acquiring an additional 15,255 shares during the period. Finally, Susquehanna International Group LLP increased its position in Rapid Micro Biosystems by 12.6% in the 3rd quarter. Susquehanna International Group LLP now owns 58,387 shares of the company’s stock valued at $195,000 after acquiring an additional 6,528 shares during the period. Institutional investors and hedge funds own 52.60% of the company’s stock.

About Rapid Micro Biosystems

Rapid Micro Biosystems (NASDAQ: RPID) develops and commercializes automated microbial detection and contamination control solutions for the life sciences industry. Its flagship offering, the Growth Direct® System, leverages digital imaging and proprietary growth indicator plates to identify and count microorganisms more rapidly than traditional culture-based methods. The company’s technology platform is designed to streamline quality control workflows in pharmaceutical, biotechnology and vaccine manufacturing settings, helping clients reduce release times and improve operational efficiency.

In addition to the Growth Direct® System, Rapid Micro Biosystems offers an integrated suite of software and consumables that support automated data capture, analysis and reporting.