Richmond Brothers Inc. Trims Stock Position in Rockwell Medical, Inc. (NASDAQ:RMTI)

Richmond Brothers Inc. cut its stake in Rockwell Medical, Inc. (NASDAQ:RMTI) by 86.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,682 shares of the company’s stock after selling 217,190 shares during the period. Richmond Brothers Inc. owned about 0.10% of Rockwell Medical worth $67,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Rockwell Medical in the fourth quarter valued at about $28,000. Barclays PLC purchased a new stake in shares of Rockwell Medical in the third quarter valued at about $90,000. XTX Topco Ltd raised its holdings in shares of Rockwell Medical by 45.7% in the third quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock valued at $113,000 after buying an additional 8,922 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Rockwell Medical by 134,397.1% in the third quarter. JPMorgan Chase & Co. now owns 47,074 shares of the company’s stock valued at $187,000 after buying an additional 47,039 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Rockwell Medical by 75.6% in the third quarter. HighTower Advisors LLC now owns 57,413 shares of the company’s stock valued at $228,000 after buying an additional 24,715 shares during the last quarter. 23.31% of the stock is owned by hedge funds and other institutional investors.

Rockwell Medical Trading Down 2.3 %

Shares of Rockwell Medical stock opened at $1.73 on Wednesday. Rockwell Medical, Inc. has a 52-week low of $1.38 and a 52-week high of $5.15. 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’s 50-day simple moving average is $1.89 and its 200-day simple moving average is $2.64. The firm has a market cap of $55.91 million, a price-to-earnings ratio of -34.60 and a beta of 1.55.

Wall Street Analysts Forecast Growth

RMTI has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Rockwell Medical in a report on Monday, December 23rd. StockNews.com lowered shares of Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

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.