Zacks Investment Research upgraded shares of Rubius Therapeutics (NASDAQ:RUBY) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

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 equities research analysts have also weighed in on RUBY. Leerink Swann assumed coverage on shares of Rubius Therapeutics in a research note on Monday, August 13th. They set an outperform rating on the stock. Morgan Stanley assumed coverage on shares of Rubius Therapeutics in a research note on Monday, August 13th. They set an overweight rating and a $37.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of Rubius Therapeutics in a research note on Monday, August 13th. They set a buy rating and a $40.00 price objective on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Rubius Therapeutics in a research note on Monday, August 13th. They set an overweight rating on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $38.50.

Shares of Rubius Therapeutics stock traded down $1.14 during trading on Wednesday, reaching $15.69. The company had a trading volume of 59,741 shares, compared to its average volume of 133,937. Rubius Therapeutics has a fifty-two week low of $15.06 and a fifty-two week high of $33.01.

Rubius Therapeutics (NASDAQ:RUBY) last issued its earnings results on Friday, August 31st. The company reported ($3.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($2.73). During the same quarter last year, the business posted ($1.25) EPS. Sell-side analysts forecast that Rubius Therapeutics will post -1.7 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC acquired a new stake in Rubius Therapeutics during the third quarter worth about $140,907,000. Artal Group S.A. acquired a new stake in Rubius Therapeutics during the third quarter worth about $69,811,000. Alliancebernstein L.P. acquired a new stake in Rubius Therapeutics during the third quarter worth about $39,045,000. BlackRock Inc. acquired a new stake in Rubius Therapeutics during the third quarter worth about $38,155,000. Finally, Jennison Associates LLC acquired a new stake in Rubius Therapeutics during the third quarter worth about $11,333,000. Hedge funds and other institutional investors own 0.01% 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 through its rubius erythrocyte design cellular therapy platform. The company is developing various RCTs, such as RTX-134 for treatment of classic and moderate phenylketonuria; RTX-Uricase/URAT1 for treatment of chronic refractory gout; RTX-CBS for treatment of homocystinuria; RTX-OxOx for the treatment of second-line hyperoxaluria; and RTX-ALAD for the treatment of acute intermittent porphyria.

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