Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Sees Significant Decline in Short Interest

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) was the recipient of a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 161,309 shares, a decline of 32.4% from the November 30th total of 238,781 shares. Based on an average daily volume of 106,055 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.5% of the shares of the company are short sold. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 106,055 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Investors Weigh In On Rapid Micro Biosystems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. ABG WTT Global Life Science Capital Partners GP Ltd boosted its position in Rapid Micro Biosystems by 78.0% during the first quarter. ABG WTT Global Life Science Capital Partners GP Ltd now owns 1,848,296 shares of the company’s stock worth $4,880,000 after acquiring an additional 810,000 shares during the last quarter. Parkman Healthcare Partners LLC acquired a new position in shares of Rapid Micro Biosystems during the 1st quarter worth approximately $1,942,000. Evernest Financial Advisors LLC grew its position in shares of Rapid Micro Biosystems by 355.1% in the third quarter. Evernest Financial Advisors LLC now owns 200,234 shares of the company’s stock valued at $669,000 after purchasing an additional 156,234 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Rapid Micro Biosystems in the first quarter valued at approximately $289,000. Finally, Vanguard Group Inc. lifted its position in Rapid Micro Biosystems by 6.7% during the third quarter. Vanguard Group Inc. now owns 965,018 shares of the company’s stock worth $3,223,000 after buying an additional 60,655 shares in the last quarter. Institutional investors and hedge funds own 52.60% of the company’s stock.

Rapid Micro Biosystems Price Performance

RPID traded down $0.10 during trading on Monday, hitting $2.89. The company’s stock had a trading volume of 92,500 shares, compared to its average volume of 213,125. The firm has a market capitalization of $127.87 million, a price-to-earnings ratio of -2.86 and a beta of 1.33. Rapid Micro Biosystems has a twelve month low of $0.87 and a twelve month high of $4.50. The business’s fifty day simple moving average is $3.53 and its 200 day simple moving average is $3.33. The company has a current ratio of 4.23, a quick ratio of 2.95 and a debt-to-equity ratio of 0.42.

Rapid Micro Biosystems (NASDAQ:RPID) last announced its earnings results on Friday, November 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.26). Rapid Micro Biosystems had a negative return on equity of 73.90% and a negative net margin of 145.11%.The firm had revenue of $7.84 million for the quarter, compared to analyst estimates of $7.60 million. On average, equities research analysts forecast that Rapid Micro Biosystems will post -1.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RPID. Wall Street Zen cut shares of Rapid Micro Biosystems from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapid Micro Biosystems in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.