Zacks Investment Research Lowers Rubius Therapeutics (NASDAQ:RUBY) to Sell

Zacks Investment Research lowered shares of Rubius Therapeutics (NASDAQ:RUBY) from a buy rating to a sell rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Rubius Therapeutics, Inc. is a bio-technology company. It develops cellular therapies for the treatment of auto-immune, metabolic and other diseases. Rubius Therapeutics, Inc. is based in Cambridge, United States. “

RUBY has been the subject of a number of other reports. Robert W. Baird assumed coverage on shares of Rubius Therapeutics in a report on Monday, September 9th. They issued an underperform rating and a $4.00 target price for the company. ValuEngine upgraded shares of Rubius Therapeutics from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Rubius Therapeutics from $27.00 to $22.00 and set an overweight rating for the company in a report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $18.67.

Shares of NASDAQ RUBY traded down $0.52 during midday trading on Wednesday, hitting $7.36. The company had a trading volume of 798,800 shares, compared to its average volume of 263,282. Rubius Therapeutics has a twelve month low of $6.96 and a twelve month high of $23.98. The business has a 50-day simple moving average of $9.00 and a two-hundred day simple moving average of $12.26. The firm has a market capitalization of $783.77 million, a price-to-earnings ratio of -3.24 and a beta of 2.26. The company has a quick ratio of 17.27, a current ratio of 17.27 and a debt-to-equity ratio of 0.21.

Rubius Therapeutics (NASDAQ:RUBY) last released its earnings results on Thursday, November 14th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.06). During the same quarter in the previous year, the firm posted ($0.42) EPS. On average, equities analysts forecast that Rubius Therapeutics will post -2.02 EPS for the current year.

In other Rubius Therapeutics news, insider Christopher L. Carpenter sold 48,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $10.11, for a total transaction of $485,280.00. Also, Director Robert Langer sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $9.25, for a total transaction of $69,375.00. 58.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUBY. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Rubius Therapeutics by 147.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,241,299 shares of the company’s stock worth $19,526,000 after buying an additional 739,449 shares during the period. Nikko Asset Management Americas Inc. lifted its position in shares of Rubius Therapeutics by 142.3% during the second quarter. Nikko Asset Management Americas Inc. now owns 1,254,158 shares of the company’s stock worth $19,728,000 after purchasing an additional 736,490 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Rubius Therapeutics by 29.1% during the second quarter. Vanguard Group Inc. now owns 2,725,717 shares of the company’s stock worth $42,876,000 after purchasing an additional 614,759 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Rubius Therapeutics during the second quarter worth $3,381,000. Finally, ARK Investment Management LLC lifted its position in shares of Rubius Therapeutics by 31.9% during the second quarter. ARK Investment Management LLC now owns 698,402 shares of the company’s stock worth $10,986,000 after purchasing an additional 168,787 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

Rubius Therapeutics Company Profile

Rubius Therapeutics, Inc focuses on the development of red cell therapeutics (RCTs) for the treatment of patients with severe diseases. The company is developing various RCTs, such as RTX-134 for treatment of phenylketonuria; RTX-Uricase for treatment of chronic refractory gout; RTX-CBS for treatment of homocystinuria; and RTX-OxOx for the treatment of second-line hyperoxaluria.

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