Shares of Rubius Therapeutics Inc (NASDAQ:RUBY) fell 7.5% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $16.03 and last traded at $16.22. 528,221 shares were traded during mid-day trading, an increase of 62% from the average session volume of 326,504 shares. The stock had previously closed at $17.54.

Specifically, insider Christopher L. Carpenter sold 48,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $15.84, for a total transaction of $760,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

A number of brokerages have issued reports on RUBY. ValuEngine lowered shares of Rubius Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 21st. Zacks Investment Research lowered shares of Rubius Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. Finally, Morgan Stanley cut their price objective on shares of Rubius Therapeutics from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, December 19th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.00.

The company has a quick ratio of 25.78, a current ratio of 25.78 and a debt-to-equity ratio of 0.06.

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new position in shares of Rubius Therapeutics in the third quarter valued at approximately $7,512,000. Rhumbline Advisers bought a new position in shares of Rubius Therapeutics in the third quarter valued at approximately $207,000. Jennison Associates LLC bought a new position in shares of Rubius Therapeutics in the third quarter valued at approximately $11,333,000. Alliancebernstein L.P. bought a new position in shares of Rubius Therapeutics in the third quarter valued at approximately $39,045,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Rubius Therapeutics in the third quarter valued at approximately $707,000. 87.04% of the stock is owned by hedge funds and other institutional investors.

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Rubius Therapeutics Company Profile (NASDAQ:RUBY)

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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