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

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) experienced a notable rise in short interest throughout January. By January 31st, the total short interest reached 132,400 shares, representing a 16.5% increase from the 113,600 shares recorded on January 15th. This current short interest accounts for about 0.6% of the company's outstanding shares. Given the average daily trading volume of 184,500 shares, the days-to-cover ratio stands at 0.7 days.

Analyst Opinions on Rapid Micro Biosystems

Additionally, KeyCorp has recently begun covering Rapid Micro Biosystems. In a report published on Wednesday, they assigned an "overweight" rating along with a target price of $8.00 for the stock.

Institutional Investments in Rapid Micro Biosystems

A recent disclosure from Renaissance Technologies LLC indicates that this institutional investor significantly increased its holdings in Rapid Micro Biosystems during the fourth quarter, boosting its stake by 122.9%. After acquiring an additional 100,942 shares, Renaissance Technologies now owns a total of 183,087 shares in the company, valued at around $165,000 at the close of the last quarter. Overall, institutional investors and hedge funds together own 52.60% of Rapid Micro Biosystems stock.

Stock Performance Overview

On Friday, RPID's stock decreased by $0.09, bringing the price down to $3.48. The trading volume reached 551,651 shares, which is above the average volume of 426,841 shares. The company's market capitalization is approximately $149.74 million, with a price-to-earnings ratio of -3.11 and a beta of 1.26. Over the past year, the stock has ranged from a low of $0.58 to a high of $3.75. The current 50-day moving average price is $1.50, while the two-hundred-day moving average price is $1.13.

About Rapid Micro Biosystems

Rapid Micro Biosystems, Inc. is a life sciences technology firm that specializes in offering solutions for detecting microbial contamination in the production processes of pharmaceuticals, medical devices, and personal care products. The company operates both domestically and globally, including markets in Germany, Switzerland, Japan, and others. Their main product, the Growth Direct platform, comprises the Growth Direct system, proprietary consumables, lab information management system software, and various customer support and validation services.

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