Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Short Interest Update

Rapid Micro Biosystems, Inc. (NASDAQ:RPID - Get Free Report) was the recipient of a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 985,200 shares, a decline of 30.1% from the April 30th total of 1,410,000 shares. Based on an average daily trading volume, of 372,700 shares, the short-interest ratio is presently 2.6 days. Approximately 5.0% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, KeyCorp began coverage on Rapid Micro Biosystems in a research note on Wednesday, February 12th. They issued an "overweight" rating and a $8.00 target price on the stock.

Rapid Micro Biosystems Price Performance

Shares of NASDAQ RPID traded down $0.03 during midday trading on Thursday, reaching $3.54. The company's stock had a trading volume of 35,642 shares, compared to its average volume of 192,009. Rapid Micro Biosystems has a 12-month low of $0.58 and a 12-month high of $4.04. The firm has a 50 day moving average price of $2.67 and a 200-day moving average price of $2.11. The stock has a market capitalization of $155.17 million, a P/E ratio of -3.16 and a beta of 1.33.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.01. Rapid Micro Biosystems had a negative return on equity of 48.05% and a negative net margin of 184.93%. The business had revenue of $7.21 million for the quarter, compared to the consensus estimate of $6.63 million. On average, equities analysts predict that Rapid Micro Biosystems will post -1.1 EPS for the current year.

Hedge Funds Weigh In On Rapid Micro Biosystems

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. purchased a new position in Rapid Micro Biosystems in the first quarter valued at approximately $31,000. Legato Capital Management LLC purchased a new position in Rapid Micro Biosystems in the first quarter valued at approximately $41,000. Millennium Management LLC lifted 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 valued at $55,000 after purchasing an additional 9,191 shares during the last quarter. Citadel Advisors LLC purchased a new position in Rapid Micro Biosystems in the fourth quarter valued at approximately $65,000. Finally, Renaissance Technologies LLC lifted its stake in 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 purchasing an additional 100,942 shares during the last quarter. Hedge funds and other institutional investors own 52.60% of the company's stock.

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.