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

Key Points

• Short interest rose 18.9% to 377,502 shares as of March 31, implying a days-to-cover of about 1.4 and representing roughly 1.2% of the company's shares shorted.
• Insiders have been selling: the COO and CFO sold shares on March 11 and insiders disposed of 249,705 shares (≈$1.02M) over the last three months, though insiders still hold 29.96% of the company.
• Recent results and stock profile: the company missed EPS estimates (‑$0.28 vs. ‑$0.23) while posting $11.28M revenue, its market cap is about $103.7M and the stock trades near $2.28 with a consensus analyst rating of “Hold” and a $8 target.

Rapid Micro Biosystems, Inc. (NASDAQ:RPID - Get Free Report) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totaling 377,502 shares, a growth of 18.9% from the March 15th total of 317,445 shares. Based on an average trading volume of 276,966 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.2% of the shares of the stock are short sold.

Insider Buying and Selling

In other news, COO John J. Addington Wilson sold 9,603 shares of the company's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $4.32, for a total value of $41,484.96. Following the sale, the chief operating officer directly owned 316,762 shares in the company, valued at $1,368,411.84. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sean M. Wirtjes sold 7,480 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 $32,313.60. Following the completion of the sale, the chief financial officer owned 556,194 shares in the company, valued at $2,402,758.08. This represents a 1.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 249,705 shares of company stock valued at $1,021,364 over the last three months. Insiders own 29.96% of the company's stock.

Hedge Funds Weigh In On Rapid Micro Biosystems

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new stake in Rapid Micro Biosystems during the fourth quarter worth about $338,000. 683 Capital Management LLC acquired a new stake in Rapid Micro Biosystems during the fourth quarter worth about $350,000. OMERS ADMINISTRATION Corp acquired a new stake in Rapid Micro Biosystems during the fourth quarter worth about $71,000. Fifth Lane Capital LP acquired a new stake in Rapid Micro Biosystems during the fourth quarter worth about $51,000. Finally, Barclays PLC acquired a new stake in Rapid Micro Biosystems during the fourth quarter worth about $72,000. 52.60% of the stock is currently owned by institutional investors and hedge funds.

Rapid Micro Biosystems Trading Up 0.9%

Rapid Micro Biosystems stock traded up $0.02 during trading on Friday, hitting $2.28. The company's stock had a trading volume of 199,423 shares, compared to its average volume of 264,151. The stock has a market capitalization of $103.65 million, a price-to-earnings ratio of -2.13 and a beta of 1.59. The stock's fifty day moving average is $3.22 and its 200 day moving average is $3.45. Rapid Micro Biosystems has a 1-year low of $2.01 and a 1-year high of $4.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.36 and a current ratio of 3.31.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last released its earnings results on Thursday, March 12th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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 net margin of 140.30% and a negative return on equity of 95.40%. As a group, equities research analysts predict that Rapid Micro Biosystems will post -1.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RPID shares. Wall Street Zen upgraded Rapid Micro Biosystems from a "sell" rating to a "hold" rating in a research report on Sunday, April 12th. Weiss Ratings restated 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $8.00.

About Rapid Micro Biosystems

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.