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

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 317,445 shares, a growth of 46.4% from the February 26th total of 216,880 shares. Based on an average daily trading volume, of 235,152 shares, the short-interest ratio is currently 1.3 days. Approximately 1.0% of the company’s stock are short sold.

Insider Buying and Selling at Rapid Micro Biosystems

In other Rapid Micro Biosystems news, CFO Sean M. Wirtjes sold 17,254 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $3.92, for a total transaction of $67,635.68. Following the transaction, the chief financial officer directly owned 563,674 shares in the company, valued at $2,209,602.08. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert G. Jr. Spignesi sold 38,327 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $3.89, for a total value of $149,092.03. Following the transaction, the chief executive officer directly owned 1,187,770 shares in the company, valued at approximately $4,620,425.30. This represents a 3.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 249,705 shares of company stock worth $1,021,364 in the last ninety days. Insiders own 29.96% of the company’s stock.

Institutional Trading of Rapid Micro Biosystems

Institutional investors and hedge funds have recently modified their holdings of the company. Evernest Financial Advisors LLC lifted its position in Rapid Micro Biosystems by 355.1% in the third quarter. Evernest Financial Advisors LLC now owns 200,234 shares of the company’s stock worth $669,000 after purchasing an additional 156,234 shares during the period. 683 Capital Management LLC bought a new stake in Rapid Micro Biosystems in the 4th quarter valued at $350,000. Millennium Management LLC bought a new stake in Rapid Micro Biosystems in the 4th quarter valued at $338,000. Informed Momentum Co LLC acquired a new position in shares of Rapid Micro Biosystems in the 4th quarter valued at $224,000. Finally, Jane Street Group LLC raised its stake in shares of Rapid Micro Biosystems by 176.1% in the 4th quarter. Jane Street Group LLC now owns 105,301 shares of the company’s stock valued at $305,000 after buying an additional 67,161 shares in the last quarter. 52.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapid Micro Biosystems in a report on Thursday, January 22nd. Wall Street Zen upgraded Rapid Micro Biosystems from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.00.

Rapid Micro Biosystems Stock Performance

Shares of NASDAQ:RPID traded down $0.08 on Friday, hitting $2.20. 226,900 shares of the company were exchanged, compared to its average volume of 257,093. The company’s 50 day moving average price is $3.80 and its two-hundred day moving average price is $3.54. The firm has a market capitalization of $100.01 million, a price-to-earnings ratio of -2.06 and a beta of 1.38. 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 has a one year low of $1.86 and a one year high of $4.94.

Rapid Micro Biosystems (NASDAQ:RPID) last released its earnings results on Thursday, March 12th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.05). Rapid Micro Biosystems had a negative net margin of 140.30% and a negative return on equity of 95.40%. The company had revenue of $11.28 million during the quarter, compared to the consensus estimate of $10.93 million. Research analysts expect that Rapid Micro Biosystems will post -1.1 earnings per share for the current year.

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.