Zacks Investment Research Downgrades 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 research note published 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. “

Other research analysts have also issued reports about the stock. ValuEngine upgraded shares of Rubius Therapeutics from a hold rating to a buy rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their price target on shares of Rubius Therapeutics from $27.00 to $22.00 and set an overweight rating on the stock in a research note on Thursday, August 29th. Finally, Robert W. Baird initiated coverage on shares of Rubius Therapeutics in a research note on Monday, September 9th. They set an underperform rating and a $4.00 price target on the stock. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Rubius Therapeutics presently has an average rating of Hold and a consensus target price of $18.67.

Shares of Rubius Therapeutics stock traded down $0.52 during trading on Wednesday, hitting $7.36. 798,800 shares of the stock were exchanged, compared to its average volume of 263,282. The company has a debt-to-equity ratio of 0.21, a current ratio of 17.27 and a quick ratio of 17.27. The stock has a market cap of $783.77 million, a price-to-earnings ratio of -3.24 and a beta of 2.26. Rubius Therapeutics has a 12-month low of $6.96 and a 12-month high of $23.98. The firm’s 50-day moving average price is $9.00 and its 200 day moving average price is $12.26.

Rubius Therapeutics (NASDAQ:RUBY) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.06). During the same quarter in the prior year, the business posted ($0.42) EPS. As a group, research analysts forecast that Rubius Therapeutics will post -2.02 earnings per share for the current year.

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

A number of hedge funds have recently added to or reduced their stakes in RUBY. Bank of Montreal Can purchased a new stake in Rubius Therapeutics during the second quarter worth about $46,000. Tower Research Capital LLC TRC purchased a new stake in Rubius Therapeutics during the second quarter worth about $67,000. SG Americas Securities LLC purchased a new stake in Rubius Therapeutics during the third quarter worth about $155,000. UBS Asset Management Americas Inc. purchased a new stake in Rubius Therapeutics during the second quarter worth about $162,000. Finally, Metropolitan Life Insurance Co NY boosted its holdings in Rubius Therapeutics by 65.0% during the first quarter. Metropolitan Life Insurance Co NY now owns 11,867 shares of the company’s stock worth $214,000 after buying an additional 4,676 shares in the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

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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