Mark Strobeck, the President and CEO of Rockwell Medical , Inc. (NASDAQ:RMTI), has sold 2,163 shares of the company's common stock. This transaction, executed on January 2, 2025, was part of a pre-established Rule 10b5-1 trading plan. The shares were sold at $2.055 each, amounting to a total value of $4,444. Following this sale, Strobeck holds 145,038 shares in the company.The stock, which has seen a notable 35% gain over the past six months according to InvestingPro data, currently trades at $2.26. The company, with a market cap of $73.2M, has demonstrated strong revenue growth of 22% in the last twelve months. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report for deeper analysis of RMTI's financial health and valuation metrics.
In other recent news, Rockwell Medical (TASE:PMCN) has entered into a product purchase agreement with a leading global provider of dialysis products and services. The three-year deal, which includes the option for two additional one-year renewals, is expected to generate over $10 million in net sales for the company in the first year alone. These anticipated earnings exceed the company's previously announced revenue projections for 2025.
H.C. Wainwright has maintained a Buy rating on Rockwell Medical, despite reducing the stock price target from $9.00 to $7.00 following the company's Q3 results and an expected decrease in future order volumes from a key customer. Meanwhile, Rodman & Renshaw initiated coverage on the company's stock with a Buy rating, citing the company's potential for growth in the U.S. dialysis concentrate market.
Rockwell Medical has also announced the appointment of Jesse Neri as its new Senior Vice President and Chief Financial Officer. The company has initiated a $25 million common stock offering in collaboration with Cantor Fitzgerald & Co., aiming to raise capital for various corporate purposes. These are the recent developments at Rockwell Medical.
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