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

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) was the target of a large increase in short interest in 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. Based on an average daily trading volume, of 501,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 5.8% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Rapid Micro Biosystems Stock Performance

Shares of RPID traded down $0.11 during mid-day trading on Friday, hitting $2.58. 79,502 shares of the company were exchanged, compared to its average volume of 171,677. The stock 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 1-year low of $0.58 and a 1-year high of $4.04. The company has a 50 day moving average of $2.51 and a 200-day moving average of $1.52.

Rapid Micro Biosystems (NASDAQ:RPID) last released its earnings results on Friday, February 28th. The company reported ($0.22) earnings per share for the quarter, meeting the consensus estimate of ($0.22). Rapid Micro Biosystems had a negative return on equity of 48.05% and a negative net margin of 184.93%. The business had revenue of $8.22 million for the quarter, compared to the consensus estimate of $8.20 million. Research analysts anticipate that Rapid Micro Biosystems will post -1.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapid Micro Biosystems

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

About Rapid Micro Biosystems

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.