Rockwell Medical, Inc. (NASDAQ:RMTI) Shares Sold by Richmond Brothers Inc.

Richmond Brothers Inc. reduced its stake in shares of Rockwell Medical, Inc. (NASDAQ:RMTI) by 86.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,682 shares of the company’s stock after selling 217,190 shares during the quarter. Richmond Brothers Inc.’s holdings in Rockwell Medical were worth $67,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Corsair Capital Management L.P. acquired a new stake in shares of Rockwell Medical in the third quarter valued at approximately $298,000. Walleye Capital LLC acquired a new stake in shares of Rockwell Medical in the third quarter valued at approximately $435,000. HighTower Advisors LLC grew its position 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 purchasing an additional 24,715 shares during the last quarter. State Street Corp grew its position in shares of Rockwell Medical by 21.5% in the third quarter. State Street Corp now owns 95,004 shares of the company’s stock valued at $377,000 after purchasing an additional 16,800 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Rockwell Medical in the third quarter valued at approximately $534,000. 23.31% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Medical Stock Performance

Shares of RMTI opened at $1.73 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.00 and a current ratio of 2.41. The company has a market capitalization of $55.91 million, a price-to-earnings ratio of -34.60 and a beta of 1.55. The company’s 50 day simple moving average is $1.89 and its 200 day simple moving average is $2.64. Rockwell Medical, Inc. has a 1 year low of $1.38 and a 1 year high of $5.15.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RMTI. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Rockwell Medical in a research report on Monday, December 23rd. StockNews.com downgraded 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.