Rockwell Medical Inc. (NASDAQ:RMTI) traded down 4.3% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $6.32 and last traded at $6.42, with a volume of 280,923 shares trading hands. The stock had previously closed at $6.71.
Specifically, Director Kenneth L. Holt sold 9,520 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $6.37, for a total value of $60,642.40. Following the completion of the sale, the director now owns 56,048 shares of the company’s stock, valued at $357,025.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth L. Holt sold 3,692 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $7.31, for a total transaction of $26,988.52. Following the completion of the sale, the director now directly owns 63,475 shares of the company’s stock, valued at approximately $464,002.25. The disclosure for this sale can be found here. 15.90% of the stock is currently owned by company insiders.
Several analysts have issued reports on the stock. BTIG Research assumed coverage on shares of Rockwell Medical in a research report on Friday, August 19th. They issued a “buy” rating and a $12.00 price objective for the company. Zacks Investment Research raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $11.00.
The firm’s market capitalization is $337.50 million. The company has a 50-day moving average price of $7.18 and a 200-day moving average price of $7.79.
Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The firm had revenue of $12.50 million for the quarter, compared to analyst estimates of $13.86 million. Rockwell Medical had a negative net margin of 33.04% and a negative return on equity of 28.90%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. On average, analysts forecast that Rockwell Medical Inc. will post ($0.37) EPS for the current year.
Large investors have recently bought and sold shares of the company. Paloma Partners Management Co bought a new stake in Rockwell Medical during the second quarter valued at $125,000. Rhumbline Advisers raised its stake in Rockwell Medical by 9.2% in the second quarter. Rhumbline Advisers now owns 55,164 shares of the company’s stock valued at $418,000 after buying an additional 4,641 shares during the period. Teachers Advisors Inc. raised its stake in Rockwell Medical by 0.7% in the second quarter. Teachers Advisors Inc. now owns 74,948 shares of the company’s stock valued at $567,000 after buying an additional 547 shares during the period. BlackRock Investment Management LLC raised its stake in Rockwell Medical by 5.0% in the second quarter. BlackRock Investment Management LLC now owns 192,817 shares of the company’s stock valued at $1,460,000 after buying an additional 9,250 shares during the period. Finally, Vanguard Group Inc. raised its stake in Rockwell Medical by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,832,115 shares of the company’s stock valued at $13,870,000 after buying an additional 83,440 shares during the period. Hedge funds and other institutional investors own 21.72% of the company’s stock.
Rockwell Medical Company Profile
Rockwell Medical, Inc (Rockwell) is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. The Company operates through the hemodialysis market segment, which involves the manufacture, sale and distribution of hemodialysis products to hemodialysis clinics, including pharmaceutical, dialysis concentrates, dialysis kits and other ancillary products used in the dialysis process.
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