Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Short Interest Up 18.9% in March
by Doug Wharley · The Cerbat GemRapid Micro Biosystems, Inc. (NASDAQ:RPID – Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 377,502 shares, an increase of 18.9% from the March 15th total of 317,445 shares. Based on an average daily trading volume, of 276,966 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.2% of the shares of the stock are short sold.
Rapid Micro Biosystems Trading Up 0.9%
NASDAQ:RPID opened at $2.28 on Friday. 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 fifty-two week low of $2.01 and a fifty-two week high of $4.94. The stock’s 50-day moving average is $3.19 and its two-hundred day moving average is $3.44. The stock has a market cap of $103.65 million, a PE ratio of -2.13 and a beta of 1.59.
Rapid Micro Biosystems (NASDAQ:RPID – Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). Rapid Micro Biosystems had a negative return on equity of 95.40% and a negative net margin of 140.30%.The company had revenue of $11.28 million during the quarter, compared to analysts’ expectations of $10.93 million. As a group, equities research analysts forecast that Rapid Micro Biosystems will post -1.1 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on RPID shares. Wall Street Zen upgraded shares of Rapid Micro Biosystems from a “sell” rating to a “hold” rating in a report on Sunday, April 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.00.
Check Out Our Latest Report on Rapid Micro Biosystems
Insider Transactions at Rapid Micro Biosystems
In related news, CFO Sean M. Wirtjes sold 17,254 shares of Rapid Micro Biosystems stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $3.92, for a total transaction of $67,635.68. Following the transaction, the chief financial officer directly owned 563,674 shares of the company’s stock, valued at $2,209,602.08. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Longitude Capital Partners Ii, sold 49,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $3.88, for a total transaction of $190,120.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 249,705 shares of company stock worth $1,021,364. Corporate insiders own 29.96% of the company’s stock.
Institutional Investors Weigh In On Rapid Micro Biosystems
Institutional investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP acquired a new position in shares of Rapid Micro Biosystems in the third quarter worth $38,000. American Century Companies Inc. boosted its position in Rapid Micro Biosystems by 46.1% during the second quarter. American Century Companies Inc. now owns 16,922 shares of the company’s stock valued at $58,000 after purchasing an additional 5,341 shares during the last quarter. Fifth Lane Capital LP acquired a new stake in Rapid Micro Biosystems during the fourth quarter valued at $51,000. OMERS ADMINISTRATION Corp purchased a new position in Rapid Micro Biosystems in the fourth quarter valued at about $71,000. Finally, Barclays PLC purchased a new position in Rapid Micro Biosystems in the fourth quarter valued at about $72,000. Institutional investors and hedge funds own 52.60% of the company’s stock.
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.