Rapid Micro Biosystems (NASDAQ:RPID) Coverage Initiated by Analysts at KeyCorp

Analysts at KeyCorp assumed coverage on shares of Rapid Micro Biosystems (NASDAQ:RPID) in a report issued on Wednesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $8.00 price target on the stock. KeyCorp’s price target indicates a potential upside of 124.09% from the stock’s previous close.

Rapid Micro Biosystems Trading Up 9.5 %

Shares of NASDAQ RPID opened at $3.57 on Wednesday. The stock has a fifty day simple moving average of $1.45 and a two-hundred day simple moving average of $1.11. Rapid Micro Biosystems has a 1-year low of $0.58 and a 1-year high of $3.75. The firm has a market cap of $153.62 million, a price-to-earnings ratio of -3.19 and a beta of 1.26.

Hedge Funds Weigh In On Rapid Micro Biosystems

An institutional investor recently raised its position in Rapid Micro Biosystems stock. Renaissance Technologies LLC lifted its stake in Rapid Micro Biosystems, Inc. (NASDAQ:RPID) by 122.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,087 shares of the company’s stock after acquiring an additional 100,942 shares during the period. Renaissance Technologies LLC owned approximately 0.43% of Rapid Micro Biosystems worth $165,000 at the end of the most recent reporting 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.