Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Sees Significant Increase in Short Interest

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,180,000 shares, an increase of 190.3% from the February 28th total of 406,500 shares. Currently, 5.8% of the company’s shares are short sold. Based on an average daily volume of 501,000 shares, the short-interest ratio is presently 2.4 days.

Rapid Micro Biosystems Price Performance

Shares of Rapid Micro Biosystems stock opened at $2.68 on Friday. Rapid Micro Biosystems has a one year low of $0.58 and a one year high of $4.04. The business’s 50 day simple moving average is $2.54 and its two-hundred day simple moving average is $1.53. The stock has a market capitalization of $115.88 million, a P/E ratio of -2.39 and a beta of 1.08.

Rapid Micro Biosystems (NASDAQ:RPID) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.22) EPS for the quarter, meeting analysts’ consensus estimates of ($0.22). The company had revenue of $8.22 million during the quarter, compared to analyst estimates of $8.20 million. Rapid Micro Biosystems had a negative net margin of 184.93% and a negative return on equity of 48.05%. Sell-side analysts expect that Rapid Micro Biosystems will post -1.1 earnings per share for the current fiscal year.

Institutional Trading of Rapid Micro Biosystems

Large investors have recently modified their holdings of the business. Millennium Management LLC lifted its holdings in Rapid Micro Biosystems by 17.6% in the 4th quarter. Millennium Management LLC now owns 61,375 shares of the company’s stock worth $55,000 after buying an additional 9,191 shares during the period. Citadel Advisors LLC purchased a new stake in Rapid Micro Biosystems in the fourth quarter worth $65,000. Finally, Renaissance Technologies LLC boosted its holdings in Rapid Micro Biosystems by 122.9% in the fourth quarter. Renaissance Technologies LLC now owns 183,087 shares of the company’s stock valued at $165,000 after acquiring an additional 100,942 shares in the last quarter. 52.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, KeyCorp began coverage on shares of Rapid Micro Biosystems in a research report on Wednesday, February 12th. They set an “overweight” rating and a $8.00 price target for the company.

Rapid Micro Biosystems Company Profile

Rapid Micro Biosystems, Inc, a life sciences technology company, provides products for the detection of microbial contamination in the manufacture of pharmaceutical, medical devices, and personal care products in the United States, Germany, Switzerland, Japan, and internationally. The company offers Growth Direct platform, which includes Growth Direct system, proprietary consumables, lab information management system connection software, and customer support and validation services.