Rockwell Medical, Inc. (NASDAQ:RMTI) Sees Large Decrease in Short Interest

Rockwell Medical, Inc. (NASDAQ:RMTI) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 592,459 shares, a decrease of 33.3% from the November 30th total of 888,853 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average trading volume of 206,394 shares, the days-to-cover ratio is currently 2.9 days. Based on an average trading volume of 206,394 shares, the days-to-cover ratio is currently 2.9 days. Currently, 1.5% of the company’s shares are short sold.

Wall Street Analyst Weigh In

RMTI has been the subject of several recent analyst reports. Wall Street Zen downgraded Rockwell Medical from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Rockwell Medical in a research report on Wednesday, October 8th. Finally, HC Wainwright cut their target price on Rockwell Medical from $3.00 to $2.50 and set a “buy” rating on the stock in a report on Thursday, November 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rockwell Medical presently has a consensus rating of “Hold” and a consensus price target of $2.50.

Rockwell Medical Stock Performance

RMTI traded down $0.04 on Monday, hitting $0.82. The company’s stock had a trading volume of 212,337 shares, compared to its average volume of 580,777. Rockwell Medical has a 12 month low of $0.78 and a 12 month high of $2.41. The company’s 50 day simple moving average is $0.97 and its 200-day simple moving average is $1.10. The company has a quick ratio of 3.50, a current ratio of 3.91 and a debt-to-equity ratio of 0.25. The firm has a market cap of $32.35 million, a P/E ratio of -5.13 and a beta of 1.62.

Institutional Trading of Rockwell Medical

A number of large investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. purchased a new position in shares of Rockwell Medical during the 2nd quarter valued at about $41,000. Vanguard Group Inc. lifted its stake in Rockwell Medical by 12.3% in the third quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock worth $1,625,000 after acquiring an additional 148,737 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in shares of Rockwell Medical by 635.1% in the 3rd quarter. GSA Capital Partners LLP now owns 163,978 shares of the company’s stock valued at $197,000 after purchasing an additional 141,672 shares in the last quarter. 23.31% of the stock is currently owned by institutional investors.

Rockwell Medical Company Profile

Rockwell Medical, Inc is a Delaware‐domiciled biopharmaceutical company focused on the development and commercialization of therapies for patients with chronic kidney disease (CKD). The company’s mission centers on addressing common complications in CKD—namely iron deficiency and secondary hyperparathyroidism—through innovative treatment approaches designed for dialysis settings.

The company’s lead product, TRIFERIC®, is an iron replacement therapy approved by the U.S. Food and Drug Administration for use in hemodialysis patients.