Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Sees Large Decrease in Short Interest

Rapid Micro Biosystems, Inc. (NASDAQ:RPID - Get Free Report) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 737,500 shares, a drop of 25.1% from the May 15th total of 985,200 shares. Currently, 3.7% of the company's shares are sold short. Based on an average trading volume of 169,800 shares, the days-to-cover ratio is currently 4.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RPID. Millennium Management LLC grew 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 worth $55,000 after purchasing an additional 9,191 shares during the period. Citadel Advisors LLC bought a new stake in shares of Rapid Micro Biosystems during the 4th quarter valued at $65,000. Renaissance Technologies LLC grew its position 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 worth $165,000 after buying an additional 100,942 shares during the period. American Century Companies Inc. purchased a new stake in shares of Rapid Micro Biosystems in the 1st quarter worth about $31,000. Finally, Parkman Healthcare Partners LLC bought a new position in shares of Rapid Micro Biosystems in the 1st quarter worth about $1,942,000. Institutional investors own 52.60% of the company's stock.

Rapid Micro Biosystems Trading Down 0.9%

Shares of Rapid Micro Biosystems stock opened at $3.47 on Wednesday. Rapid Micro Biosystems has a 12-month low of $0.58 and a 12-month high of $4.04. The company has a market cap of $152.09 million, a P/E ratio of -3.37 and a beta of 1.33. The company's fifty day simple moving average is $2.89 and its two-hundred day simple moving average is $2.28.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($0.26) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.01. Rapid Micro Biosystems had a negative net margin of 151.22% and a negative return on equity of 56.07%. The firm had revenue of $7.21 million for the quarter, compared to analyst estimates of $6.63 million. Analysts predict that Rapid Micro Biosystems will post -1.1 EPS for the current fiscal year.

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.

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