Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Short Interest Sees 16.5% Increase in January

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) experienced a notable rise in short interest during January. By January 31st, short interest reached 132,400 shares, marking a 16.5% increase from the 113,600 shares reported on January 15th. Currently, short sales account for 0.6% of the company's total shares. Considering the average daily trading volume of 184,500 shares, the days-to-cover ratio stands at 0.7 days.

Wall Street Analyst Perspective

In a separate update, KeyCorp has begun covering shares of Rapid Micro Biosystems. In their report, they assigned an "overweight" rating along with a price target of $8.00 for the stock.

Institutional Investor Activity

Recently, an institutional investor made significant changes to its holdings in Rapid Micro Biosystems. Renaissance Technologies LLC increased its position in the company by 122.9% during the fourth quarter, as per their recent disclosure with the Securities and Exchange Commission (SEC). The firm now holds 183,087 shares after purchasing an additional 100,942 shares in that quarter. At the end of the latest quarter, Renaissance Technologies LLC owned 0.43% of Rapid Micro Biosystems, valued at approximately $165,000. A total of 52.60% of the company's shares are held by institutional investors and hedge funds.

Rapid Micro Biosystems Stock Overview

On Friday, RPID shares traded down $0.09 to $3.48. A total of 551,651 shares changed hands, against an average volume of 426,841 shares. Rapid Micro Biosystems has a market capitalization of $149.74 million, a price-to-earnings (P/E) ratio of -3.11, and a beta of 1.26. The stock has fluctuated between a twelve-month low of $0.58 and a high of $3.75. Its 50-day moving average price is $1.50, while its 200-day moving average stands at $1.13.

Company Overview

Rapid Micro Biosystems, Inc. is a life sciences technology company. The firm specializes in products designed for detecting microbial contamination during the manufacturing of pharmaceuticals, medical devices, and personal care products on a global scale, including in the United States, Germany, Switzerland, and Japan. The company offers the Growth Direct platform, which comprises the Growth Direct system, proprietary consumables, laboratory information management system connectivity software, and customer support, along with validation services.

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