Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Short Interest Up 26.3% in July

Rapid Micro Biosystems, Inc. (NASDAQ:RPIDGet Rating) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 459,400 shares, an increase of 26.3% from the June 30th total of 363,700 shares. Based on an average trading volume of 318,700 shares, the short-interest ratio is currently 1.4 days. Currently, 3.2% of the shares of the stock are sold short.

Rapid Micro Biosystems Price Performance

Rapid Micro Biosystems stock opened at $4.40 on Tuesday. The stock has a market capitalization of $184.54 million and a P/E ratio of -0.21. Rapid Micro Biosystems has a 12-month low of $2.49 and a 12-month high of $27.04. The firm’s 50-day moving average is $4.07 and its two-hundred day moving average is $5.59.

Rapid Micro Biosystems (NASDAQ:RPIDGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.02). The company had revenue of $4.16 million for the quarter, compared to analysts’ expectations of $5.26 million. Rapid Micro Biosystems had a negative return on equity of 44.23% and a negative net margin of 296.26%. As a group, analysts forecast that Rapid Micro Biosystems will post -1.38 EPS for the current year.

Insider Activity at Rapid Micro Biosystems

In other news, CEO Robert G. Jr. Spignesi purchased 10,000 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were bought at an average cost of $3.79 per share, with a total value of $37,900.00. Following the purchase, the chief executive officer now directly owns 194,027 shares of the company’s stock, valued at $735,362.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Robert G. Jr. Spignesi purchased 10,000 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were bought at an average cost of $3.79 per share, with a total value of $37,900.00. Following the purchase, the chief executive officer now directly owns 194,027 shares of the company’s stock, valued at $735,362.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kennedy Lewis Management Lp purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, May 31st. The shares were purchased at an average cost of $5.11 per share, for a total transaction of $102,200.00. Following the completion of the purchase, the insider now directly owns 2,841,451 shares in the company, valued at $14,519,814.61. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 139,916 shares of company stock valued at $611,058. Insiders own 38.04% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Rapid Micro Biosystems by 6.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,785,773 shares of the company’s stock worth $19,000,000 after acquiring an additional 101,541 shares during the period. BlackRock Inc. raised its holdings in Rapid Micro Biosystems by 17.6% in the first quarter. BlackRock Inc. now owns 1,636,539 shares of the company’s stock valued at $11,112,000 after buying an additional 245,098 shares during the period. ABG WTT Global Life Science Capital Partners GP Ltd purchased a new position in Rapid Micro Biosystems in the first quarter valued at approximately $7,050,000. Vanguard Group Inc. raised its holdings in Rapid Micro Biosystems by 139.9% in the first quarter. Vanguard Group Inc. now owns 956,870 shares of the company’s stock valued at $6,496,000 after buying an additional 558,028 shares during the period. Finally, Ally Bridge Group NY LLC raised its holdings in Rapid Micro Biosystems by 59.8% in the first quarter. Ally Bridge Group NY LLC now owns 699,664 shares of the company’s stock valued at $4,751,000 after buying an additional 261,704 shares during the period. 69.77% of the stock is currently owned by hedge funds and other institutional investors.

About Rapid Micro Biosystems

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Rapid Micro Biosystems, Inc, a life sciences technology company, provides products for the detection of microbial contamination in the manufacture of pharmaceutical, medical devices, and personal care products in North America, Europe, and Asia. The company offers Growth Direct platform, which includes Growth Direct system, proprietary consumables, lab information management system connection software, and comprehensive customer support and validation services.

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