Rapid Micro Biosystems (NASDAQ:RPID) Trading Up 5.3% - Time to Buy?

Rapid Micro Biosystems, Inc. (NASDAQ:RPID - Get Free Report) shares rose 5.3% during trading on Thursday . The stock traded as high as $2.45 and last traded at $2.40. 54,008 shares traded hands during trading, a decline of 70% from the average daily volume of 178,439 shares. The stock had previously closed at $2.28.

Analyst Upgrades and Downgrades

Separately, KeyCorp began coverage on shares of Rapid Micro Biosystems in a research report on Wednesday, February 12th. They issued an "overweight" rating and a $8.00 price objective for the company.

Rapid Micro Biosystems Trading Up 2.2 %

The company has a market cap of $101.61 million, a P/E ratio of -2.10 and a beta of 1.12. The firm's 50 day moving average price is $2.58 and its 200-day moving average price is $1.72.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last released its earnings results on Friday, February 28th. The company reported ($0.22) EPS for the quarter, hitting analysts' consensus estimates of ($0.22). The firm had revenue of $8.22 million during the quarter, compared to analyst estimates of $8.20 million. Rapid Micro Biosystems had a negative net margin of 184.93% and a negative return on equity of 48.05%. Analysts predict that Rapid Micro Biosystems, Inc. will post -1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rapid Micro Biosystems

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its stake 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. Citadel Advisors LLC bought a new stake in Rapid Micro Biosystems in the fourth quarter valued at approximately $65,000. Finally, Renaissance Technologies LLC raised its holdings in Rapid Micro Biosystems by 122.9% in the fourth quarter. Renaissance Technologies LLC now owns 183,087 shares of the company's stock worth $165,000 after purchasing an additional 100,942 shares during the period. Institutional investors and hedge funds own 52.60% of the company's stock.

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.