Rockwell Medical, Inc. (NASDAQ:RMTI) Short Interest Up 91.2% in June

Rockwell Medical, Inc. (NASDAQ:RMTI) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totaling 734,278 shares, a growth of 91.2% from the May 31st total of 383,990 shares. Based on an average trading volume of 386,686 shares, the days-to-cover ratio is currently 1.9 days. Currently, 2.0% of the shares of the stock are short sold.

Rockwell Medical Trading Up 6.7%

Shares of Rockwell Medical stock traded up $0.35 during trading hours on Thursday, reaching $5.54. 90,570 shares of the company’s stock were exchanged, compared to its average volume of 50,825. Rockwell Medical has a 52-week low of $4.88 and a 52-week high of $21.00. The firm has a market capitalization of $218.66 million, a price-to-earnings ratio of -36.93 and a beta of 1.62. The company has a fifty day moving average of $7.42 and a 200-day moving average of $8.84. The company has a current ratio of 3.74, a quick ratio of 3.43 and a debt-to-equity ratio of 0.23.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.30). The business had revenue of $17.34 million during the quarter, compared to analysts’ expectations of $17.95 million. Rockwell Medical had a negative net margin of 7.98% and a negative return on equity of 15.41%. Sell-side analysts forecast that Rockwell Medical will post -0.08 EPS for the current fiscal year.

Institutional Trading of Rockwell Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMTI. Jane Street Group LLC purchased a new position in shares of Rockwell Medical during the 4th quarter worth about $84,000. Vanguard Group Inc. grew its holdings in Rockwell Medical by 12.3% in the third 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 during the period. Geode Capital Management LLC increased its position in Rockwell Medical by 12.9% during the fourth quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock worth $304,000 after purchasing an additional 41,668 shares during the last quarter. XTX Topco Ltd increased its position in Rockwell Medical by 286.5% during the fourth quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock worth $52,000 after purchasing an additional 46,029 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Rockwell Medical by 36.5% during the first quarter. Renaissance Technologies LLC now owns 639,120 shares of the company’s stock worth $571,000 after purchasing an additional 170,800 shares during the period. Hedge funds and other institutional investors own 23.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Rockwell Medical in a research note on Friday, May 22nd. Wall Street Zen raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings downgraded shares of Rockwell Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.

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.