Short Interest in Rockwell Medical, Inc. (NASDAQ:RMTI) Rises By 44.1%

Rockwell Medical, Inc. (NASDAQ:RMTI) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 853,816 shares, an increase of 44.1% from the December 15th total of 592,459 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 261,824 shares, the days-to-cover ratio is currently 3.3 days. Based on an average daily trading volume, of 261,824 shares, the days-to-cover ratio is currently 3.3 days. Approximately 2.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Rockwell Medical

Hedge funds have recently made changes to their positions in the company. Panagora Asset Management Inc. purchased a new position in shares of Rockwell Medical in the second quarter valued at approximately $41,000. Vanguard Group Inc. lifted its holdings in Rockwell Medical by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock valued at $1,625,000 after purchasing an additional 148,737 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in 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. Institutional investors and hedge funds own 23.31% of the company’s stock.

Rockwell Medical Stock Up 0.7%

Shares of NASDAQ RMTI opened at $0.96 on Friday. The firm has a market cap of $37.72 million, a price-to-earnings ratio of -5.98 and a beta of 1.65. The company’s 50-day simple moving average is $0.91 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. Rockwell Medical has a 52-week low of $0.78 and a 52-week high of $2.27.

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.