Rockwell Medical, Inc. (NASDAQ:RMTI) Short Interest Down 89.4% in July

Rockwell Medical, Inc. (NASDAQ:RMTI) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totaling 85,486 shares, a decrease of 89.4% from the June 30th total of 803,271 shares. Based on an average trading volume of 42,968 shares, the short-interest ratio is currently 2.0 days. Currently, 2.3% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RMTI. HC Wainwright reissued a “buy” rating and set a $20.00 target price (up from $2.00) on shares of Rockwell Medical in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of Rockwell Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Rockwell Medical to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.00.

Institutional Investors Weigh In On Rockwell Medical

Several institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd grew its holdings 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 worth $52,000 after buying an additional 46,029 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Rockwell Medical during the 4th quarter valued at $84,000. Geode Capital Management LLC increased its holdings in shares of Rockwell Medical by 12.9% during 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. raised its position in shares of Rockwell Medical by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock worth $1,625,000 after buying an additional 148,737 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Rockwell Medical by 36.5% in the 1st quarter. Renaissance Technologies LLC now owns 639,120 shares of the company’s stock worth $571,000 after buying an additional 170,800 shares during the period. 23.31% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Medical Stock Performance

Shares of NASDAQ RMTI traded up $0.10 during trading hours on Friday, reaching $6.63. The stock had a trading volume of 8,828 shares, compared to its average volume of 46,260. The firm has a 50-day moving average of $6.57 and a 200-day moving average of $8.54. The firm has a market cap of $26.32 million, a price-to-earnings ratio of -4.42 and a beta of 1.61. 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 has a fifty-two week low of $4.89 and a fifty-two week high of $21.00.

Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.30). The business had revenue of $17.34 million for the quarter, compared to analysts’ expectations of $17.95 million. Rockwell Medical had a negative return on equity of 15.41% and a negative net margin of 7.98%. Equities research analysts predict that Rockwell Medical will post -0.76 earnings per share for the current 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.