Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Short Interest Up 46.4% in March
by Sarita Garza · The Markets DailyRapid Micro Biosystems, Inc. (NASDAQ:RPID – Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 317,445 shares, an increase of 46.4% from the February 26th total of 216,880 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average daily volume of 235,152 shares, the days-to-cover ratio is presently 1.3 days.
Rapid Micro Biosystems Price Performance
RPID stock traded down $0.02 during midday trading on Monday, reaching $2.18. 18,020 shares of the company’s stock traded hands, compared to its average volume of 275,066. The company has a 50-day simple moving average of $3.80 and a two-hundred day simple moving average of $3.55. Rapid Micro Biosystems has a 1-year low of $1.86 and a 1-year high of $4.94. The company has a market cap of $99.10 million, a price-to-earnings ratio of -2.04 and a beta of 1.38. The company has a quick ratio of 2.36, a current ratio of 3.31 and a debt-to-equity ratio of 0.57.
Rapid Micro Biosystems (NASDAQ:RPID – Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). The business had revenue of $11.28 million during the quarter, compared to analyst estimates of $10.93 million. Rapid Micro Biosystems had a negative return on equity of 95.40% and a negative net margin of 140.30%. On average, analysts anticipate that Rapid Micro Biosystems will post -1.1 earnings per share for the current year.
Insider Activity at Rapid Micro Biosystems
In other Rapid Micro Biosystems news, major shareholder Longitude Capital Partners Ii, sold 49,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $3.88, for a total value of $190,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John J. Addington Wilson sold 9,603 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $4.32, for a total value of $41,484.96. Following the completion of the transaction, the chief operating officer owned 316,762 shares of the company’s stock, valued at $1,368,411.84. The trade was a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 249,705 shares of company stock valued at $1,021,364 in the last quarter. Company insiders own 29.96% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evernest Financial Advisors LLC increased its position in Rapid Micro Biosystems by 355.1% in the 3rd quarter. Evernest Financial Advisors LLC now owns 200,234 shares of the company’s stock valued at $669,000 after acquiring an additional 156,234 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Rapid Micro Biosystems by 6.7% during the third quarter. Vanguard Group Inc. now owns 965,018 shares of the company’s stock worth $3,223,000 after purchasing an additional 60,655 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Rapid Micro Biosystems by 1.6% during the second quarter. Geode Capital Management LLC now owns 204,079 shares of the company’s stock worth $704,000 after purchasing an additional 3,143 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Rapid Micro Biosystems during the fourth quarter valued at approximately $338,000. Finally, Renaissance Technologies LLC grew its stake in shares of Rapid Micro Biosystems by 4.9% during the fourth quarter. Renaissance Technologies LLC now owns 115,627 shares of the company’s stock valued at $335,000 after purchasing an additional 5,440 shares during the last quarter. Institutional investors and hedge funds own 52.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Rapid Micro Biosystems from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapid Micro Biosystems in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.00.
View Our Latest Research Report on Rapid Micro Biosystems
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.