Rockwell Medical, Inc. (NASDAQ:RMTI) Director Mark H. Ravich Sells 10,000 Shares

Rockwell Medical, Inc. (NASDAQ:RMTI) Director Mark H. Ravich sold 10,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $2.40, for a total transaction of $24,000.00. Following the transaction, the director now owns 121,429 shares of the company’s stock, valued at approximately $291,429.60. This trade represents a 7.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Rockwell Medical Trading Down 5.6 %

Shares of Rockwell Medical stock opened at $2.20 on Friday. The stock’s 50 day simple moving average is $3.56 and its 200-day simple moving average is $2.63. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 2.00. Rockwell Medical, Inc. has a 1-year low of $1.16 and a 1-year high of $5.15. The stock has a market cap of $71.10 million, a P/E ratio of -44.00 and a beta of 1.50.

Institutional Investors Weigh In On Rockwell Medical

Several large investors have recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC acquired a new position in shares of Rockwell Medical in the third quarter worth $40,000. Verus Capital Partners LLC acquired a new position in Rockwell Medical during the 3rd quarter worth $51,000. Barclays PLC purchased a new stake in Rockwell Medical during the 3rd quarter worth about $90,000. Beacon Financial Advisory LLC acquired a new stake in Rockwell Medical in the 3rd quarter valued at about $98,000. Finally, XTX Topco Ltd grew its position in shares of 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 buying an additional 8,922 shares in the last quarter. 23.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RMTI has been the subject of several research reports. StockNews.com lowered Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Thursday. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Rockwell Medical in a research report on Wednesday, September 11th. Rodman & Renshaw began coverage on Rockwell Medical in a research note on Thursday, November 14th. They issued a “buy” rating and a $5.00 price objective for the company. Finally, RODMAN&RENSHAW raised shares of Rockwell Medical to a “strong-buy” rating in a research note on Thursday, November 14th.

Rockwell Medical Company Profile

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.