Rapid Micro Biosystems (NASDAQ:RPID) Announces Quarterly Earnings Results

Rapid Micro Biosystems (NASDAQ:RPID) posted its earnings results on Friday. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.01), Zacks reports. The firm had revenue of $6.62 million during the quarter, compared to analyst estimates of $6.02 million. Rapid Micro Biosystems had a negative return on equity of 42.25% and a negative net margin of 224.73%. During the same quarter last year, the business posted ($0.33) earnings per share. Rapid Micro Biosystems updated its FY 2024 guidance to EPS.

Rapid Micro Biosystems Stock Up 17.3 %

Shares of NASDAQ:RPID traded up $0.12 during midday trading on Friday, reaching $0.80. 367,309 shares of the company were exchanged, compared to its average volume of 22,477. Rapid Micro Biosystems has a fifty-two week low of $0.58 and a fifty-two week high of $1.19. The stock has a fifty day simple moving average of $0.72 and a two-hundred day simple moving average of $0.87. The firm has a market cap of $34.07 million, a PE ratio of -0.66 and a beta of 1.06.

About Rapid Micro Biosystems

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.