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

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) saw 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. Based on an average daily volume of 501,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 5.8% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, KeyCorp began coverage on 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.

Hedge Funds Weigh In On Rapid Micro Biosystems

Several hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted 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 acquiring an additional 100,942 shares in the last quarter. Citadel Advisors LLC acquired a new position in Rapid Micro Biosystems in the 4th quarter valued at about $65,000. Finally, Millennium Management LLC lifted its holdings in Rapid Micro Biosystems by 17.6% in the 4th quarter. Millennium Management LLC now owns 61,375 shares of the company’s stock valued at $55,000 after purchasing an additional 9,191 shares in the last quarter. Hedge funds and other institutional investors own 52.60% of the company’s stock.

Rapid Micro Biosystems Trading Down 5.2 %

Shares of RPID opened at $2.56 on Thursday. Rapid Micro Biosystems has a twelve month low of $0.58 and a twelve month high of $4.04. The firm has a market capitalization of $110.69 million, a P/E ratio of -2.29 and a beta of 1.08. The firm’s 50-day moving average is $2.48 and its two-hundred day moving average is $1.51.

Rapid Micro Biosystems (NASDAQ:RPID) last announced its earnings results on Friday, February 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.22). The company had revenue of $8.22 million during 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%. Analysts predict that Rapid Micro Biosystems will post -1.1 EPS for the current 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.