Rubius Therapeutics (NASDAQ:RUBY) Upgraded at Zacks Investment Research

Rubius Therapeutics (NASDAQ:RUBY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, 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. “

Several other analysts have also commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Rubius Therapeutics from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. ValuEngine raised shares of Rubius Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of Rubius Therapeutics in a research report on Friday, November 15th. Robert W. Baird assumed coverage on shares of Rubius Therapeutics in a research report on Monday, September 9th. They set an “underperform” rating and a $4.00 price target on the stock. Finally, Morgan Stanley reduced their price target on shares of Rubius Therapeutics from $17.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $18.67.

RUBY stock opened at $7.71 on Wednesday. The firm has a market cap of $587.33 million, a PE ratio of -3.40 and a beta of 2.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 9.83 and a current ratio of 9.83. The firm’s 50 day moving average price is $8.94 and its 200-day moving average price is $12.06. Rubius Therapeutics has a one year low of $6.96 and a one year high of $23.98.

Rubius Therapeutics (NASDAQ:RUBY) last released its quarterly earnings results on Thursday, November 14th. The company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.06). During the same quarter in the previous year, the firm earned ($0.42) EPS. Equities research analysts predict that Rubius Therapeutics will post -2.04 EPS for the current fiscal year.

In other Rubius Therapeutics news, 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 value of $69,375.00. Also, 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 value of $485,280.00. 58.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can acquired a new position in Rubius Therapeutics during the second quarter worth about $46,000. Tower Research Capital LLC TRC acquired a new stake in shares of Rubius Therapeutics in the second quarter valued at approximately $67,000. Metropolitan Life Insurance Co NY grew its position in shares of Rubius Therapeutics by 65.0% in the first quarter. Metropolitan Life Insurance Co NY now owns 11,867 shares of the company’s stock valued at $214,000 after purchasing an additional 4,676 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Rubius Therapeutics by 21.4% in the third quarter. California Public Employees Retirement System now owns 51,000 shares of the company’s stock valued at $400,000 after purchasing an additional 9,000 shares during the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Rubius Therapeutics in the second quarter valued at approximately $162,000. 99.17% of the stock is currently owned by institutional investors.

About Rubius Therapeutics

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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