Short Interest in Rockwell Medical, Inc. (NASDAQ:RMTI) Declines By 19.0%

Rockwell Medical, Inc. (NASDAQ:RMTI) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totaling 743,232 shares, a decline of 19.0% from the March 15th total of 917,373 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average daily volume of 340,317 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its stake 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 buying an additional 141,672 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Rockwell Medical by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock worth $304,000 after buying an additional 41,668 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 148,737 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Rockwell Medical during the fourth quarter valued at approximately $84,000. Finally, XTX Topco Ltd increased its position in shares of Rockwell Medical by 286.5% during the fourth quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock valued at $52,000 after acquiring an additional 46,029 shares during the last quarter. 23.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on RMTI. HC Wainwright cut their price target on Rockwell Medical from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rockwell Medical in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Rockwell Medical currently has a consensus rating of “Hold” and a consensus price target of $2.00.

Rockwell Medical Trading Down 0.3%

NASDAQ RMTI opened at $0.91 on Friday. The firm has a market capitalization of $36.00 million, a P/E ratio of -6.09 and a beta of 1.70. The business has a fifty day simple moving average of $0.96 and a 200 day simple moving average of $0.99. Rockwell Medical has a 12 month low of $0.78 and a 12 month high of $2.10. The company has a current ratio of 3.98, a quick ratio of 3.63 and a debt-to-equity ratio of 0.25.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). Rockwell Medical had a negative return on equity of 15.64% and a negative net margin of 7.67%.The firm had revenue of $18.35 million for the quarter, compared to analysts’ expectations of $18.58 million. On average, analysts predict that Rockwell Medical will post 0.03 EPS for the current fiscal year.

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.