Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Sees Significant Increase in Short Interest

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) saw a significant 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 daily volume of 469,300 shares, the days-to-cover ratio is currently 0.9 days. Currently, 2.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RPID. Renaissance Technologies LLC boosted its stake 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 worth $165,000 after acquiring an additional 100,942 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Rapid Micro Biosystems during the 4th quarter worth $65,000. Finally, Millennium Management LLC boosted its stake in shares of Rapid Micro Biosystems by 17.6% during the 4th 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. Hedge funds and other institutional investors own 52.60% of the company’s stock.

Analysts Set New Price Targets

Separately, KeyCorp began coverage on shares of 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 Trading Up 7.9 %

Shares of RPID stock opened at $2.46 on Friday. Rapid Micro Biosystems has a 12-month low of $0.58 and a 12-month high of $4.04. The firm’s 50 day moving average is $2.26 and its 200 day moving average is $1.41. The stock has a market capitalization of $106.36 million, a P/E ratio of -2.20 and a beta of 1.08.

Rapid Micro Biosystems (NASDAQ:RPID) last issued its earnings results on Friday, February 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.22). The company had revenue of $8.22 million for the quarter, compared to analysts’ expectations of $8.20 million. Rapid Micro Biosystems had a negative net margin of 184.93% and a negative return on equity of 48.05%. As a group, equities analysts predict that Rapid Micro Biosystems will post -1.1 earnings per share for the current year.

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.