Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Sees Large Growth in Short Interest

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 406,500 shares, a growth of 202.2% from the February 13th total of 134,500 shares. Based on an average trading volume of 469,300 shares, the short-interest ratio is presently 0.9 days. Currently, 2.0% of the company’s shares are short sold.

Rapid Micro Biosystems Price Performance

Shares of RPID stock opened at $2.39 on Thursday. The company’s 50-day simple moving average is $2.20 and its two-hundred day simple moving average is $1.39. Rapid Micro Biosystems has a one year low of $0.58 and a one year high of $4.04. The company has a market capitalization of $103.34 million, a P/E ratio of -2.13 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 the consensus estimate of ($0.22). The business 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%. On average, research analysts expect that Rapid Micro Biosystems will post -1.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

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

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.