Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Short Interest Up 36.4% in March

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

Analyst Upgrades and Downgrades

Separately, KeyCorp started coverage on shares of Rapid Micro Biosystems in a research note on Wednesday, February 12th. They set an “overweight” rating and a $8.00 target price for the company.

Rapid Micro Biosystems Price Performance

Shares of NASDAQ RPID traded up $0.12 during mid-day trading on Friday, hitting $2.40. The company had a trading volume of 54,008 shares, compared to its average volume of 178,439. Rapid Micro Biosystems has a 12 month low of $0.58 and a 12 month high of $4.04. The firm has a market cap of $103.77 million, a P/E ratio of -2.14 and a beta of 1.12. The business’s 50-day simple moving average is $2.63 and its 200-day simple moving average is $1.68.

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

Hedge Funds Weigh In On Rapid Micro Biosystems

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its stake in Rapid Micro Biosystems by 17.6% in the fourth quarter. Millennium Management LLC now owns 61,375 shares of the company’s stock valued at $55,000 after acquiring an additional 9,191 shares during the period. Citadel Advisors LLC acquired a new stake in Rapid Micro Biosystems during the fourth quarter valued at approximately $65,000. Finally, Renaissance Technologies LLC grew its stake in shares of Rapid Micro Biosystems by 122.9% in the 4th 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. Institutional investors and hedge funds own 52.60% of the company’s stock.

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.