Rockwell Medical (RMTI) : Traders are getting increasingly bearish on Rockwell Medical (RMTI), as can be seen in the addition of short positions from 9,036,376 on Jul 29, 2016, to 9,192,967 on August 15, 2016. The net change in shorts is 156,591 shares, an increase of 1.7%. 27 days remain before the expiry. The 19.4% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 335,771. The short interest information was released on Wednesday Aug 24th after the market close.
Rockwell Medical (NASDAQ:RMTI): The stock opened at $7.19 on Wednesday but the bulls could not build on the opening and the stock topped out at $7.38 for the day. The stock traded down to $7.12 during the day, due to lack of any buying support eventually closed down at $7.16 with a loss of -1.24% for the day. The stock had closed at $7.25 on the previous day. The total traded volume was 386,053 shares.
In a related news, Holt Kenneth L, director of Rockwell Medical, Inc., unloaded 3,692 shares at an average price of $7.31 on August 12, 2016. The total amount of the transaction was worth $26,989, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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 Companys lead branded drug, Triferic is approved by the United States Food and Drug Administration (FDA). Triferic is an iron compound that is delivered to hemodialysis patients via dialysate, replacing the iron loss that occurs during their dialysis treatment. Triferic enters the blood and immediately binds to transferrin and is transported to the erythroid precursor cells to be incorporated into hemoglobin. Rockwells generic drug, Calcitriol, is indicated for treating secondary hyperparathyroidism in dialysis patients. The Company manufactures, sells, delivers and distributes hemodialysis concentrates, along with a range of ancillary products.