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

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) reported a notable rise in short interest during January. As of January 31st, the total short interest reached 132,400 shares. This marks an increase of 16.5% compared to the January 15th total of 113,600 shares. Currently, short sales account for 0.6% of the company’s shares. With an average daily trading volume of 184,500 shares, the days-to-cover ratio is approximately 0.7 days.

Wall Street Analyst Opinions

In a separate development, KeyCorp has initiated coverage on Rapid Micro Biosystems, assigning an "overweight" rating along with a target price of $8.00 per share.

Institutional Investment Insights

Recently, an institutional investor has increased its stake in Rapid Micro Biosystems. Renaissance Technologies LLC expanded its holding by 122.9% in the fourth quarter, as detailed in the firm's recent filing with the Securities and Exchange Commission (SEC). The fund now owns 183,087 shares after acquiring an additional 100,942 shares during that period. By the end of the last quarter, Renaissance Technologies held 0.43% of Rapid Micro Biosystems, valued at $165,000. Overall, 52.60% of the company's shares are owned by institutional investors and hedge funds.

Stock Performance Overview

On a recent trading day, Rapid Micro Biosystems’ stock fell by $0.09, bringing the price down to $3.48. During the session, 551,651 shares changed hands, which is within its average volume of 426,841 shares. The company's market capitalization stands at $149.74 million, with a P/E ratio of -3.11 and a beta of 1.26. Throughout the past year, the stock has seen a low of $0.58 and a high of $3.75. The stock’s 50-day moving average is $1.50, while its 200-day moving average is $1.13.

About Rapid Micro Biosystems

Rapid Micro Biosystems, Inc. is a life sciences technology company that specializes in the detection of microbial contamination during the manufacturing of pharmaceuticals, medical devices, and personal care products, operating in the United States, Germany, Switzerland, Japan, and other international locations. They provide the Growth Direct platform, which includes the Growth Direct system, proprietary consumables, lab information management system connection software, and customer support and validation services.

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