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

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) saw a large drop in short interest in October. As of October 15th, there was short interest totalling 17,600 shares, a drop of 55.9% from the September 30th total of 39,900 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 63,100 shares, the days-to-cover ratio is currently 0.3 days.

Insider Activity at Rapid Micro Biosystems

In related news, CEO Robert G. Jr. Spignesi bought 50,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $0.77 per share, for a total transaction of $38,500.00. Following the purchase, the chief executive officer now directly owns 540,012 shares of the company’s stock, valued at approximately $415,809.24. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Robert G. Jr. Spignesi bought 50,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $0.77 per share, for a total transaction of $38,500.00. Following the acquisition, the chief executive officer now owns 540,012 shares of the company’s stock, valued at $415,809.24. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard S. Kollender purchased 65,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of $0.77 per share, for a total transaction of $50,050.00. Following the transaction, the director now directly owns 96,718 shares in the company, valued at approximately $74,472.86. This represents a 200.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 175,000 shares of company stock worth $141,850 in the last 90 days. 30.40% of the stock is owned by corporate insiders.

Rapid Micro Biosystems Price Performance

Shares of NASDAQ:RPID traded up $0.01 during trading hours on Friday, hitting $0.92. The company’s stock had a trading volume of 177,915 shares, compared to its average volume of 93,532. The firm’s fifty day moving average price is $0.86 and its 200 day moving average price is $0.82. The company has a market capitalization of $39.43 million, a price-to-earnings ratio of -0.76 and a beta of 1.13. Rapid Micro Biosystems has a 52 week low of $0.58 and a 52 week high of $1.18.

Rapid Micro Biosystems (NASDAQ:RPID) last released its quarterly earnings results on Friday, August 2nd. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.01). Rapid Micro Biosystems had a negative return on equity of 45.23% and a negative net margin of 204.22%. The company had revenue of $6.62 million during the quarter, compared to the consensus estimate of $6.02 million. During the same period in the previous year, the firm posted ($0.33) earnings per share. On average, equities research analysts predict that Rapid Micro Biosystems will post -1.06 earnings per share for the current fiscal year.

Rapid Micro Biosystems Company Profile

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 the United States, Germany, Switzerland, Japan, and internationally. The company offers Growth Direct platform, which includes Growth Direct system, proprietary consumables, lab information management system connection software, and customer support and validation services.