SVB Leerink Reaffirms Market Perform Rating for Rubius Therapeutics (NASDAQ:RUBY)

Posted by John. R. Edwardson on Feb 23rd, 2021

Rubius Therapeutics (NASDAQ:RUBY)‘s stock had its “market perform” rating restated by equities research analysts at SVB Leerink in a research note issued on Tuesday, Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Rubius Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Saturday, January 23rd. Morgan Stanley lifted their price objective on shares of Rubius Therapeutics from $5.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Rubius Therapeutics has a consensus rating of “Buy” and an average price target of $12.60.

Shares of RUBY traded down $0.84 during mid-day trading on Tuesday, hitting $11.50. The company’s stock had a trading volume of 7,491 shares, compared to its average volume of 522,066. The firm has a 50-day moving average price of $11.18 and a 200 day moving average price of $7.00. The stock has a market capitalization of $930.63 million, a price-to-earnings ratio of -5.37 and a beta of 2.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.15 and a quick ratio of 7.15. Rubius Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $15.99.

In other Rubius Therapeutics news, Director David R. Epstein sold 7,404 shares of the firm’s stock in a transaction dated Wednesday, February 10th. The shares were sold at an average price of $14.79, for a total value of $109,505.16. Following the completion of the transaction, the director now directly owns 4,726,220 shares in the company, valued at $69,900,793.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David R. Epstein sold 89,233 shares of the firm’s stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $14.88, for a total transaction of $1,327,787.04. Following the completion of the transaction, the director now owns 4,726,220 shares of the company’s stock, valued at $70,326,153.60. The disclosure for this sale can be found here. Company insiders own 58.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its holdings in shares of Rubius Therapeutics by 82.7% during the third quarter. Squarepoint Ops LLC now owns 53,710 shares of the company’s stock worth $269,000 after purchasing an additional 24,308 shares during the period. NEXT Financial Group Inc acquired a new stake in shares of Rubius Therapeutics during the third quarter worth approximately $31,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Rubius Therapeutics during the third quarter worth approximately $140,000. Bank of America Corp DE boosted its holdings in shares of Rubius Therapeutics by 22.6% during the second quarter. Bank of America Corp DE now owns 17,725 shares of the company’s stock worth $106,000 after purchasing an additional 3,272 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Rubius Therapeutics by 174.6% during the third quarter. Public Employees Retirement System of Ohio now owns 25,615 shares of the company’s stock worth $128,000 after purchasing an additional 16,286 shares during the period. Institutional investors own 93.74% of the company’s stock.

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 RTX-240 and RTX-224 for the treatment of cancer; and RTX-aAPC to treat solid and hematological cancers. It is also developing RTX-321 for the treatment of HPV-positive tumors; and RTX-T1D for treating type 1 diabetes.

SVB Leerink Reaffirms Market Perform Rating for Rubius Therapeutics (NASDAQ:RUBY)

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