Rockwell Medical, Inc. (NASDAQ:RMTI) Short Interest Update

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

Rockwell Medical Stock Performance

NASDAQ:RMTI traded down $0.01 during mid-day trading on Wednesday, hitting $0.81. The stock had a trading volume of 62,691 shares, compared to its average volume of 577,688. The company’s 50 day simple moving average is $0.95 and its 200 day simple moving average is $1.10. The stock has a market cap of $31.80 million, a price-to-earnings ratio of -5.04 and a beta of 1.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.50 and a current ratio of 3.91. Rockwell Medical has a twelve month low of $0.78 and a twelve month high of $2.41.

Analysts Set New Price Targets

A number of research firms have weighed in on RMTI. Wall Street Zen downgraded Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. HC Wainwright decreased their target price on shares of Rockwell Medical from $3.00 to $2.50 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rockwell Medical in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.50.

Institutional Trading of Rockwell Medical

Several hedge funds and other institutional investors have recently modified their holdings of RMTI. GSA Capital Partners LLP boosted its stake in shares of Rockwell Medical by 635.1% in the third quarter. GSA Capital Partners LLP now owns 163,978 shares of the company’s stock valued at $197,000 after buying an additional 141,672 shares during the period. Vanguard Group Inc. lifted its position in shares of Rockwell Medical by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock valued at $1,625,000 after acquiring an additional 148,737 shares during the period. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Rockwell Medical during the 2nd quarter worth $41,000. Institutional investors own 23.31% of the company’s stock.

About Rockwell Medical

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.