Rapid Micro Biosystems (NASDAQ:RPID) Releases Earnings Results, Hits Expectations
Rapid Micro Biosystems (NASDAQ:RPID) reported quarterly earnings of ($0.26) per share, meeting analysts' expectations. The company generated $7.84 million in revenue, surpassing the $7.60 million estimate. Despite a negative net margin of 145.63% and a return on equity of -63.07%, institutional investors have increased their stakes. Analysts have mixed ratings, with a consensus rating of "Moderate Buy" and a price target of $8.00. The stock traded at $3.10, reflecting a 12-month range of $0.87 to $4.50.
Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) issued its earnings results on Friday. The company reported ($0.26) earnings per share for the quarter, meeting the consensus estimate of ($0.26), Zacks reports. Rapid Micro Biosystems had a negative return on equity of 63.07% and a negative net margin of 145.63%.The company had revenue of $7.84 million during the quarter, compared to analysts' expectations of $7.60 million. Rapid Micro Biosystems updated its FY 2025 guidance to EPS.
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Rapid Micro Biosystems Stock Performance
Shares of Rapid Micro Biosystems stock traded up $0.35 during midday trading on Friday, reaching $3.10. 127,335 shares of the company's stock traded hands, compared to its average volume of 82,886. The stock has a 50 day moving average of $3.06 and a 200-day moving average of $3.13. Rapid Micro Biosystems has a 12 month low of $0.87 and a 12 month high of $4.50. The company has a market cap of $137.05 million, a PE ratio of -3.07 and a beta of 1.37.
Hedge Funds Weigh In On Rapid Micro Biosystems
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Rapid Micro Biosystems by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 965,018 shares of the company's stock valued at $3,223,000 after acquiring an additional 60,655 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Rapid Micro Biosystems by 1.6% during the second quarter. Geode Capital Management LLC now owns 204,079 shares of the company's stock valued at $704,000 after purchasing an additional 3,143 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Rapid Micro Biosystems during the second quarter valued at approximately $144,000. Finally, American Century Companies Inc. grew its stake in Rapid Micro Biosystems by 46.1% in the second quarter. American Century Companies Inc. now owns 16,922 shares of the company's stock worth $58,000 after purchasing an additional 5,341 shares during the period. 52.60% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Lake Street Capital began coverage on Rapid Micro Biosystems in a research report on Monday, July 28th. They issued a "buy" rating and a $8.00 price objective for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rapid Micro Biosystems in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Rapid Micro Biosystems from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.00.
Check Out Our Latest Research Report on RPID
Rapid Micro Biosystems Company Profile
(Get Free Report)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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