Short Interest in Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Rises By 18.9%

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 377,502 shares, a growth of 18.9% from the March 15th total of 317,445 shares. Based on an average daily volume of 276,966 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.2% of the company’s shares are short sold.

Rapid Micro Biosystems Trading Up 0.9%

NASDAQ:RPID opened at $2.28 on Friday. The business’s 50-day moving average is $3.19 and its two-hundred day moving average is $3.44. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.31 and a quick ratio of 2.36. Rapid Micro Biosystems has a 12 month low of $2.01 and a 12 month high of $4.94. The firm has a market capitalization of $103.65 million, a PE ratio of -2.13 and a beta of 1.59.

Rapid Micro Biosystems (NASDAQ:RPID) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.05). Rapid Micro Biosystems had a negative net margin of 140.30% and a negative return on equity of 95.40%. The company had revenue of $11.28 million during the quarter, compared to analysts’ expectations of $10.93 million. Research analysts predict that Rapid Micro Biosystems will post -1.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on RPID. Weiss Ratings restated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a report on Thursday, January 22nd. Wall Street Zen upgraded Rapid Micro Biosystems from a “sell” rating to a “hold” rating in a report on Sunday, April 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.00.

Insiders Place Their Bets

In other news, major shareholder Longitude Capital Partners Ii, sold 49,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $3.88, for a total transaction of $190,120.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sean M. Wirtjes sold 7,480 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $4.32, for a total value of $32,313.60. Following the sale, the chief financial officer owned 556,194 shares in the company, valued at $2,402,758.08. This trade represents a 1.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 249,705 shares of company stock worth $1,021,364 over the last ninety days. Company insiders own 29.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new position in Rapid Micro Biosystems in the fourth quarter valued at about $338,000. 683 Capital Management LLC purchased a new position in Rapid Micro Biosystems in the fourth quarter valued at about $350,000. OMERS ADMINISTRATION Corp purchased a new position in Rapid Micro Biosystems in the fourth quarter valued at about $71,000. Fifth Lane Capital LP purchased a new position in Rapid Micro Biosystems in the fourth quarter valued at about $51,000. Finally, Barclays PLC purchased a new position in Rapid Micro Biosystems in the fourth quarter valued at about $72,000. 52.60% of the stock is owned by hedge funds and other institutional investors.

Rapid Micro Biosystems Company Profile

Rapid Micro Biosystems (NASDAQ: RPID) develops and commercializes automated microbial detection and contamination control solutions for the life sciences industry. Its flagship offering, the Growth Direct® System, leverages digital imaging and proprietary growth indicator plates to identify and count microorganisms more rapidly than traditional culture-based methods. The company’s technology platform is designed to streamline quality control workflows in pharmaceutical, biotechnology and vaccine manufacturing settings, helping clients reduce release times and improve operational efficiency.

In addition to the Growth Direct® System, Rapid Micro Biosystems offers an integrated suite of software and consumables that support automated data capture, analysis and reporting.