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

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

Wall Street Analyst Weigh In

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

Rapid Micro Biosystems Price Performance

RPID stock traded up $0.08 during midday trading on Tuesday, reaching $3.53. 16,505 shares of the company's stock traded hands, compared to its average volume of 190,414. The business has a 50-day moving average price of $2.63 and a two-hundred day moving average price of $2.09. Rapid Micro Biosystems has a fifty-two week low of $0.58 and a fifty-two week high of $4.04. The company has a market capitalization of $154.73 million, a P/E ratio of -3.15 and a beta of 1.13.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.01. The firm had revenue of $7.21 million for the quarter, compared to analyst estimates of $6.63 million. Rapid Micro Biosystems had a negative net margin of 184.93% and a negative return on equity of 48.05%. As a group, research analysts forecast that Rapid Micro Biosystems will post -1.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Parkman Healthcare Partners LLC acquired a new position in shares of Rapid Micro Biosystems in the 1st quarter valued at $1,942,000. ABG WTT Global Life Science Capital Partners GP Ltd boosted its holdings in shares of Rapid Micro Biosystems by 78.0% in the 1st quarter. ABG WTT Global Life Science Capital Partners GP Ltd now owns 1,848,296 shares of the company's stock valued at $4,880,000 after purchasing an additional 810,000 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Rapid Micro Biosystems in the 1st quarter valued at $289,000. American Century Companies Inc. acquired a new stake in shares of Rapid Micro Biosystems during the 1st quarter valued at $31,000. Finally, Informed Momentum Co LLC acquired a new position in Rapid Micro Biosystems during the 1st quarter worth about $467,000. 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.