Rapid Micro Biosystems (NASDAQ:RPID) Issues Earnings Results, Meets Estimates

Rapid Micro Biosystems (NASDAQ:RPID) posted its quarterly earnings results on Friday. The company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26), RTT News reports. The company had revenue of $7.60 million during the quarter, compared to analysts’ expectations of $6.30 million. Rapid Micro Biosystems had a negative net margin of 204.22% and a negative return on equity of 45.23%. During the same quarter in the previous year, the business posted ($0.31) EPS. Rapid Micro Biosystems updated its FY 2024 guidance to EPS.

Rapid Micro Biosystems Stock Performance

Shares of NASDAQ:RPID traded up $0.02 on Friday, hitting $1.10. 151,290 shares of the company’s stock were exchanged, compared to its average volume of 93,970. Rapid Micro Biosystems has a 1-year low of $0.58 and a 1-year high of $1.19. The company has a market capitalization of $47.20 million, a PE ratio of -0.94 and a beta of 1.07. The firm’s 50-day moving average is $0.89 and its 200 day moving average is $0.82.

Insider Transactions at Rapid Micro Biosystems

In related news, Director Richard S. Kollender purchased 65,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $0.77 per share, for a total transaction of $50,050.00. Following the completion of the purchase, the director now directly owns 96,718 shares of the company’s stock, valued at approximately $74,472.86. This trade represents a 200.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Kirk Malloy purchased 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $0.91 per share, for a total transaction of $45,500.00. Following the purchase, the director now directly owns 64,300 shares of the company’s stock, valued at $58,513. This represents a 300.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard S. Kollender acquired 65,000 shares of Rapid Micro Biosystems stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $0.77 per share, with a total value of $50,050.00. Following the purchase, the director now owns 96,718 shares of the company’s stock, valued at $74,472.86. The trade was a 200.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 175,000 shares of company stock valued at $141,850. Corporate insiders own 30.40% 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.