Rockwell Medical (RMTI) Downgraded to “Hold” at ValuEngine
Separately, Ifs Securities raised Rockwell Medical from an “outperform” rating to a “strong-buy” rating in a research note on Monday, March 18th.
RMTI traded up $0.07 during trading hours on Wednesday, hitting $5.16. The company’s stock had a trading volume of 173,500 shares, compared to its average volume of 315,233. Rockwell Medical has a fifty-two week low of $2.19 and a fifty-two week high of $6.88. The stock has a market cap of $292.35 million, a P/E ratio of -10.98 and a beta of 2.12.
In other news, insider David S. Richmond purchased 5,869 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was purchased at an average cost of $5.59 per share, with a total value of $32,807.71. Following the purchase, the insider now owns 177,930 shares in the company, valued at approximately $994,628.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC boosted its stake in Rockwell Medical by 23.2% during the 4th quarter. Jane Street Group LLC now owns 36,472 shares of the company’s stock valued at $82,000 after purchasing an additional 6,870 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Rockwell Medical by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 244,130 shares of the company’s stock valued at $552,000 after purchasing an additional 10,863 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Rockwell Medical during the 4th quarter valued at $27,000. BlackRock Inc. boosted its stake in Rockwell Medical by 0.4% during the 4th quarter. BlackRock Inc. now owns 3,233,156 shares of the company’s stock valued at $7,306,000 after purchasing an additional 11,911 shares in the last quarter. Finally, Rehmann Capital Advisory Group boosted its stake in Rockwell Medical by 20.9% during the 4th quarter. Rehmann Capital Advisory Group now owns 72,755 shares of the company’s stock valued at $164,000 after purchasing an additional 12,563 shares in the last quarter. 18.98% of the stock is owned by hedge funds and other institutional investors.
About Rockwell Medical
Rockwell Medical, Inc operates as an integrated biopharmaceutical company targeting end-stage renal and chronic kidney diseases in the United States and internationally. The company's lead drug includes Triferic, an iron maintenance therapy that replaces the iron lost by patients during hemodialysis treatment.
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