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

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 1,610,000 shares, a growth of 36.4% from the March 15th total of 1,180,000 shares. Currently, 7.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 522,000 shares, the short-interest ratio is currently 3.1 days.

Institutional Investors Weigh In On Rapid Micro Biosystems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RPID. Millennium Management LLC increased its stake 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 worth $55,000 after acquiring an additional 9,191 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Rapid Micro Biosystems during the 4th quarter worth about $65,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of 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 buying an additional 100,942 shares during the last quarter. Hedge funds and other institutional investors own 52.60% of the company’s stock.

Analysts Set New Price Targets

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

Rapid Micro Biosystems Stock Up 5.3 %

Shares of RPID stock traded up $0.12 during trading hours on Friday, reaching $2.40. 54,008 shares of the stock traded hands, compared to its average volume of 178,439. The business has a fifty day moving average price of $2.63 and a 200 day moving average price of $1.68. Rapid Micro Biosystems has a 1-year low of $0.58 and a 1-year high of $4.04. The firm has a market capitalization of $103.77 million, a PE ratio of -2.14 and a beta of 1.12.

Rapid Micro Biosystems (NASDAQ:RPID) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.22) earnings per share for the quarter, meeting analysts’ consensus estimates 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 expect that Rapid Micro Biosystems will post -1.1 earnings per share for the current fiscal year.

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.