Larson Family Inve Irrevocable Acquires 57,000 Shares of Rockwell Medical, Inc. (NASDAQ:RMTI) Stock

Rockwell Medical, Inc. (NASDAQ:RMTI) major shareholder Larson Family Inve Irrevocable purchased 57,000 shares of the firm’s stock in a transaction on Thursday, April 10th. The shares were acquired at an average price of $1.07 per share, with a total value of $60,990.00. Following the completion of the acquisition, the insider now owns 3,527,000 shares in the company, valued at approximately $3,773,890. This trade represents a 1.64 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Rockwell Medical Trading Down 1.0 %

NASDAQ RMTI opened at $1.03 on Thursday. Rockwell Medical, Inc. has a 52 week low of $0.86 and a 52 week high of $5.15. The business has a 50 day moving average price of $1.45 and a 200-day moving average price of $2.25. The company has a quick ratio of 2.00, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The company has a market cap of $35.08 million, a price-to-earnings ratio of -20.60 and a beta of 1.62.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Rockwell Medical had a negative net margin of 1.25% and a positive return on equity of 8.55%. The business had revenue of $24.67 million for the quarter, compared to the consensus estimate of $23.65 million. As a group, equities analysts expect that Rockwell Medical, Inc. will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rockwell Medical

Several large investors have recently added to or reduced their stakes in the business. Barclays PLC bought a new position in shares of Rockwell Medical in the third quarter valued at approximately $90,000. State Street Corp boosted its holdings in Rockwell Medical by 21.5% during the 3rd quarter. State Street Corp now owns 95,004 shares of the company’s stock worth $377,000 after acquiring an additional 16,800 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Rockwell Medical by 75.6% in the 3rd quarter. HighTower Advisors LLC now owns 57,413 shares of the company’s stock worth $228,000 after acquiring an additional 24,715 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Rockwell Medical during the third quarter valued at about $534,000. Finally, JPMorgan Chase & Co. boosted its holdings in Rockwell Medical by 134,397.1% during the third quarter. JPMorgan Chase & Co. now owns 47,074 shares of the company’s stock worth $187,000 after purchasing an additional 47,039 shares during the last quarter. Institutional investors own 23.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RMTI has been the subject of a number of research analyst reports. HC Wainwright lowered their target price on Rockwell Medical from $7.00 to $3.00 and set a “buy” rating for the company in a report on Monday, March 24th. StockNews.com lowered shares of Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

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.