Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Short Interest Update

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RPID. Millennium Management LLC lifted its holdings in shares of Rapid Micro Biosystems by 17.6% during the fourth quarter. Millennium Management LLC now owns 61,375 shares of the company’s stock worth $55,000 after purchasing an additional 9,191 shares during the period. Citadel Advisors LLC purchased a new position in Rapid Micro Biosystems during the 4th quarter worth approximately $65,000. Finally, Renaissance Technologies LLC lifted its stake in Rapid Micro Biosystems by 122.9% during the 4th 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 during the period. 52.60% of the stock is owned by institutional investors and hedge funds.

Rapid Micro Biosystems Stock Performance

RPID stock traded down $0.11 during trading on Friday, reaching $2.58. The company had a trading volume of 79,502 shares, compared to its average volume of 171,677. The company has a market cap of $111.38 million, a price-to-earnings ratio of -2.31 and a beta of 1.08. Rapid Micro Biosystems has a twelve month low of $0.58 and a twelve month high of $4.04. The firm has a 50-day simple moving average of $2.51 and a 200-day simple moving average of $1.52.

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

Analyst Ratings Changes

Separately, KeyCorp began coverage on Rapid Micro Biosystems in a report on Wednesday, February 12th. They issued an “overweight” rating and a $8.00 price target on the stock.

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.