Microvast Holdings announces departure of chief financial officer
Investing.com - Lake Street Capital Markets initiated coverage on Rapid Micro Biosystems Inc (NASDAQ:RPID) with a Buy rating and a price target of $8.00 on Monday. The stock has shown remarkable momentum, surging over 350% year-to-date and 20% in the past week, according to InvestingPro data.The research firm cited Rapid Micro Biosystems’ emergence as a category leader in microbial quality control automation with its Growth Direct platform, which reduces testing timelines from weeks to days while minimizing contamination risk and ensuring regulatory compliance.The company has placed 165 Growth Direct systems with 146 validated as of Q1, gaining significant traction among pharmaceutical and cell/gene therapy companies, with 86% of CAR-T players utilizing the technology.Lake Street highlighted the company’s shift toward recurring revenue, which now represents over 55% of total revenue compared to 34% in 2021, including consumables that carry approximately 60% gross margins.The firm also noted Rapid Micro Biosystems’ cost reduction program, which reduced 2025 cash burn guidance to approximately $30 million from $45 million last year, alongside its strategic global distribution partnership with MilliporeSigma as factors positioning the company for long-term growth. For deeper insights into RPID’s financial health and growth prospects, including 12 additional ProTips, visit InvestingPro.In other recent news, Rapid Micro Biosystems reported its first-quarter earnings for 2025, showcasing a notable increase in revenue that exceeded expectations. The company achieved a revenue of $7.2 million, surpassing the anticipated $6.6 million. However, the earnings per share (EPS) were reported at -$0.26, slightly missing the forecast of -$0.24. Despite this, the substantial revenue growth highlighted operational improvements within the company. In another development, Rapid Micro Biosystems announced the appointment of Dr. Dafni Bika to its Board of Directors. Dr. Bika, who holds a senior position at AstraZeneca, brings over 20 years of experience in pharmaceutical development and manufacturing. The addition of Dr. Bika is intended to enhance the company’s expertise as it advances its Growth Direct platform for automating pharmaceutical quality control testing. These recent developments reflect the company’s strategic efforts to bolster its growth and operational capabilities.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.