Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Short Interest Up 190.3% in March

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) was the recipient of a large growth in short interest during the month of 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. Approximately 5.8% of the shares of the company are short sold. Based on an average daily trading volume, of 501,000 shares, the short-interest ratio is presently 2.4 days.

Wall Street Analyst Weigh In

Separately, KeyCorp assumed coverage on 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 Price Performance

NASDAQ RPID opened at $2.68 on Friday. The stock has a market capitalization of $115.88 million, a price-to-earnings ratio of -2.39 and a beta of 1.08. The business’s fifty day moving average is $2.54 and its 200-day moving average is $1.53. Rapid Micro Biosystems has a one year low of $0.58 and a one year high of $4.04.

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 analysts’ consensus estimates of ($0.22). Rapid Micro Biosystems had a negative net margin of 184.93% and a negative return on equity of 48.05%. The firm had revenue of $8.22 million for the quarter, compared to analysts’ expectations of $8.20 million. Research analysts expect that Rapid Micro Biosystems will post -1.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Rapid Micro Biosystems

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in shares of 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 purchasing an additional 100,942 shares during the period. Citadel Advisors LLC bought a new stake in Rapid Micro Biosystems during the 4th quarter valued at $65,000. Finally, Millennium Management LLC lifted its position 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 acquiring an additional 9,191 shares in the last quarter. 52.60% of the stock is owned by hedge funds and other institutional investors.

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.