Rapid Micro Biosystems (NASDAQ:RPID) Upgraded at KeyCorp

KeyCorp upgraded shares of Rapid Micro Biosystems (NASDAQ:RPID) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

Rapid Micro Biosystems Price Performance

Shares of Rapid Micro Biosystems stock opened at $3.57 on Tuesday. Rapid Micro Biosystems has a one year low of $0.58 and a one year high of $3.75. The business has a 50-day simple moving average of $1.45 and a 200 day simple moving average of $1.11. The firm has a market capitalization 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

A hedge fund recently raised its stake in Rapid Micro Biosystems stock. Renaissance Technologies LLC raised its position in shares of Rapid Micro Biosystems, Inc. (NASDAQ:RPID) by 122.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183,087 shares of the company’s stock after purchasing 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. Hedge funds and other institutional investors 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.