Rubius Therapeutics (NASDAQ:RUBY) Sees Strong Trading Volume

Shares of Rubius Therapeutics Inc (NASDAQ:RUBY) saw strong trading volume on Friday . 995,300 shares were traded during mid-day trading, an increase of 250% from the previous session’s volume of 284,342 shares.The stock last traded at $8.36 and had previously closed at $7.81.

Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Rubius Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley reduced their price objective on Rubius Therapeutics from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 15th. JPMorgan Chase & Co. reduced their price objective on Rubius Therapeutics from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Robert W. Baird assumed coverage on Rubius Therapeutics in a report on Monday, September 9th. They issued an “underperform” rating and a $4.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Rubius Therapeutics in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $18.67.

The firm has a fifty day moving average of $8.95 and a 200 day moving average of $11.97. The company has a market capitalization of $615.27 million, a P/E ratio of -3.68 and a beta of 2.26. The company has a current ratio of 9.83, a quick ratio of 9.83 and a debt-to-equity ratio of 0.30.

Rubius Therapeutics (NASDAQ:RUBY) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.06). During the same period in the prior year, the company posted ($0.42) earnings per share. Sell-side analysts anticipate that Rubius Therapeutics Inc 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 dated Monday, October 14th. The stock was 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 shares were sold at an average price of $10.11, for a total value of $485,280.00. Insiders own 58.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can bought a new stake in shares of Rubius Therapeutics during the 2nd quarter valued at about $46,000. Tower Research Capital LLC TRC bought a new stake in shares of Rubius Therapeutics during the 2nd quarter valued at about $67,000. UBS Asset Management Americas Inc. bought a new stake in shares of Rubius Therapeutics during the 2nd quarter valued at about $162,000. Metropolitan Life Insurance Co NY grew its stake in shares of Rubius Therapeutics by 65.0% during the 1st 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 period. Finally, Susquehanna International Group LLP bought a new stake in shares of Rubius Therapeutics during the 2nd quarter valued at about $232,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

About Rubius Therapeutics (NASDAQ:RUBY)

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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