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

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

Rockwell Medical Trading Up 0.7%

RMTI opened at $0.96 on Friday. The stock has a market capitalization of $37.72 million, a PE ratio of -5.98 and a beta of 1.65. Rockwell Medical has a one year low of $0.78 and a one year high of $2.27. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.50 and a current ratio of 3.91. The business’s 50 day moving average price is $0.91 and its 200 day moving average price is $1.10.

Analysts Set New Price Targets

A number of analysts have commented on RMTI shares. Wall Street Zen downgraded shares of Rockwell Medical from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reiterated 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 for the company in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.50.

Institutional Trading of Rockwell Medical

Hedge funds and other institutional investors have recently modified their holdings of the business. Panagora Asset Management Inc. purchased a new stake in Rockwell Medical in the 2nd quarter valued at about $41,000. Vanguard Group Inc. increased its position in shares of Rockwell Medical by 12.3% during the third 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 last quarter. Finally, GSA Capital Partners LLP raised its stake 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 acquiring an additional 141,672 shares during the period. 23.31% of the stock is owned by institutional investors and hedge funds.

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.