Rockwell Medical (NASDAQ:RMTI) Trading Down 8.1%


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Rockwell Medical, Inc. (NASDAQ:RMTI) shares traded down 8.1% during trading on Tuesday . The company traded as low as $1.34 and last traded at $1.43. 2,569,770 shares were traded during mid-day trading, an increase of 3% from the average session volume of 2,490,493 shares. The stock had previously closed at $1.55.

A number of analysts recently commented on the stock. Zacks Investment Research cut shares of Rockwell Medical from a “hold” rating to a “strong sell” rating in a research report on Friday, February 12th. HC Wainwright lowered their price objective on shares of Rockwell Medical from $9.00 to $5.50 and set a “buy” rating for the company in a research report on Monday, February 8th.

The company has a debt-to-equity ratio of 0.50, a quick ratio of 5.83 and a current ratio of 6.13. The stock’s 50-day moving average is $1.37 and its 200 day moving average is $1.20. The firm has a market cap of $133.34 million, a P/E ratio of -3.60 and a beta of 1.11.

In other Rockwell Medical news, major shareholder David S. Richmond sold 278,124 shares of the stock in a transaction dated Tuesday, December 15th. The stock was sold at an average price of $1.11, for a total transaction of $308,717.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David S. Richmond sold 42,450 shares of the stock in a transaction dated Monday, December 21st. The stock was sold at an average price of $1.03, for a total value of $43,723.50. The disclosure for this sale can be found here. 4.70% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its holdings in Rockwell Medical by 1,605.1% during the 3rd quarter. Squarepoint Ops LLC now owns 270,674 shares of the company’s stock worth $290,000 after purchasing an additional 254,800 shares in the last quarter. Cerity Partners LLC bought a new position in Rockwell Medical during the 3rd quarter worth about $32,000. Two Sigma Securities LLC bought a new position in Rockwell Medical during the 3rd quarter worth about $26,000. Kestra Advisory Services LLC bought a new position in Rockwell Medical during the 3rd quarter worth about $40,000. Finally, SkyOak Wealth LLC increased its holdings in Rockwell Medical by 17.9% during the 3rd quarter. SkyOak Wealth LLC now owns 226,844 shares of the company’s stock worth $243,000 after purchasing an additional 34,500 shares in the last quarter. Hedge funds and other institutional investors own 26.72% of the company’s stock.

Rockwell Medical Company Profile (NASDAQ:RMTI)

Rockwell Medical, Inc operates as a biopharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis. The company offers Triferic, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores; and Calcitriol, an active vitamin D injection for the management of hypocalcemia in patients undergoing chronic hemodialysis.

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