Insider Selling: Rockwell Medical, Inc. (NASDAQ:RMTI) Director Sells 10,000 Shares of Stock

Rockwell Medical, Inc. (NASDAQ:RMTI) Director Mark H. Ravich sold 10,000 shares of Rockwell Medical stock in a transaction on Friday, November 15th. The shares were sold at an average price of $2.40, for a total value of $24,000.00. Following the sale, the director now directly owns 121,429 shares in the company, valued at $291,429.60. The trade was a 7.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rockwell Medical Stock Performance

NASDAQ RMTI opened at $2.49 on Wednesday. The firm has a market cap of $80.48 million, a price-to-earnings ratio of -49.80 and a beta of 1.50. Rockwell Medical, Inc. has a 1-year low of $1.16 and a 1-year high of $5.15. The company has a 50 day moving average of $3.66 and a 200-day moving average of $2.63. The company has a current ratio of 2.41, a quick ratio of 2.00 and a debt-to-equity ratio of 0.33.

Analysts Set New Price Targets

A number of research firms recently commented on RMTI. RODMAN&RENSHAW upgraded shares of Rockwell Medical to a “strong-buy” rating in a report on Thursday, November 14th. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Rockwell Medical in a report on Wednesday, September 11th. Rodman & Renshaw began coverage on Rockwell Medical in a report on Thursday, November 14th. They set a “buy” rating and a $5.00 price target on the stock. Finally, StockNews.com upgraded shares of Rockwell Medical from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

Hedge Funds Weigh In On Rockwell Medical

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in shares of Rockwell Medical during the 3rd quarter worth about $90,000. XTX Topco Ltd boosted its holdings in Rockwell Medical by 45.7% during the third quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock worth $113,000 after purchasing an additional 8,922 shares during the last quarter. Jane Street Group LLC bought a new stake in Rockwell Medical during the third quarter worth about $534,000. State Street Corp grew its stake in Rockwell Medical by 21.5% in the third quarter. State Street Corp now owns 95,004 shares of the company’s stock valued at $377,000 after purchasing an additional 16,800 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in Rockwell Medical by 75.6% during the third quarter. HighTower Advisors LLC now owns 57,413 shares of the company’s stock worth $228,000 after buying an additional 24,715 shares during the last quarter. Institutional investors own 23.31% of the company’s stock.

About Rockwell Medical

Rockwell Medical, Inc, together with its subsidiaries, operates as a healthcare company that engages in the development, manufacture, commercialization, and distribution of various hemodialysis products for dialysis providers worldwide. The company offers Triferic Dialysate and Triferic AVNU which are indicated to maintain hemoglobin in adult undergoing hemodialysis.