Short Interest in Rockwell Medical, Inc. (NASDAQ:RMTI) Increases By 19.3%

Rockwell Medical, Inc. (NASDAQ:RMTI) was the recipient of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 818,620 shares, a growth of 19.3% from the January 29th total of 686,242 shares. Based on an average trading volume of 278,814 shares, the short-interest ratio is presently 2.9 days. Approximately 2.1% of the shares of the company are short sold. Approximately 2.1% of the shares of the company are short sold. Based on an average trading volume of 278,814 shares, the short-interest ratio is presently 2.9 days.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wall Street Zen downgraded Rockwell Medical from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Rockwell Medical in a research note on Thursday, January 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $2.50 price target on shares of Rockwell Medical in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.50.

Rockwell Medical Stock Performance

RMTI stock traded down $0.01 during midday trading on Wednesday, reaching $0.89. 266,036 shares of the company’s stock traded hands, compared to its average volume of 893,251. The firm has a market capitalization of $35.14 million, a PE ratio of -5.57 and a beta of 1.71. The company has a 50-day moving average price of $0.99 and a two-hundred day moving average price of $1.11. Rockwell Medical has a 52 week low of $0.78 and a 52 week high of $2.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.50 and a current ratio of 3.91.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. 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 buying an additional 148,737 shares during the period. GSA Capital Partners LLP grew its stake in Rockwell Medical by 635.1% during the third 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 in the last quarter. Jane Street Group LLC purchased a new position in Rockwell Medical during the fourth quarter valued at approximately $84,000. Panagora Asset Management Inc. bought a new stake in Rockwell Medical during the 2nd quarter worth approximately $41,000. Finally, XTX Topco Ltd lifted its stake in Rockwell Medical by 286.5% in the 4th quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock worth $52,000 after purchasing an additional 46,029 shares in the last quarter. Hedge funds and other institutional investors own 23.31% of the company’s stock.

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.