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

Rockwell Medical, Inc. (NASDAQ:RMTI) major shareholder Larson Family Inve Irrevocable acquired 57,000 shares of the stock in a transaction on Thursday, April 10th. The shares were bought at an average cost of $1.07 per share, for a total transaction of $60,990.00. Following the purchase, the insider now directly owns 3,527,000 shares of the company’s stock, valued at $3,773,890. The trade was a 1.64 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Rockwell Medical Stock Performance

Shares of Rockwell Medical stock opened at $1.04 on Wednesday. The firm has a market cap of $35.42 million, a PE ratio of -20.80 and a beta of 1.62. The company has a quick ratio of 2.00, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. Rockwell Medical, Inc. has a 52 week low of $0.86 and a 52 week high of $5.15. The business’s fifty day simple moving average is $1.47 and its 200-day simple moving average is $2.26.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on RMTI shares. HC Wainwright reduced their price target on Rockwell Medical from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Monday, March 24th. StockNews.com downgraded shares of Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

Institutional Trading of Rockwell Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its position in shares of Rockwell Medical by 75.6% during the third quarter. HighTower Advisors LLC now owns 57,413 shares of the company’s stock worth $228,000 after buying an additional 24,715 shares during the period. 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 valued at $377,000 after acquiring an additional 16,800 shares during the period. Jane Street Group LLC acquired a new position in Rockwell Medical in the 3rd quarter valued at about $534,000. XTX Topco Ltd increased its stake in Rockwell Medical by 45.7% during the third quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock worth $113,000 after purchasing an additional 8,922 shares during the period. Finally, Barclays PLC purchased a new stake in Rockwell Medical during the third quarter worth about $90,000. Hedge funds and other institutional investors own 23.31% of the company’s stock.

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.