Verus Capital Partners LLC Takes $51,000 Position in Rockwell Medical, Inc. (NASDAQ:RMTI)

Verus Capital Partners LLC acquired a new position in shares of Rockwell Medical, Inc. (NASDAQ:RMTI) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,800 shares of the company’s stock, valued at approximately $51,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMTI. Armistice Capital LLC boosted its stake in shares of Rockwell Medical by 22.5% during the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock worth $5,670,000 after purchasing an additional 592,000 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Rockwell Medical by 877.1% during the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after buying an additional 92,189 shares during the period. Vanguard Group Inc. boosted its position in Rockwell Medical by 4.0% during the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock worth $1,856,000 after acquiring an additional 43,302 shares during the last quarter. Beacon Financial Advisory LLC acquired a new stake in Rockwell Medical during the third quarter worth approximately $98,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in Rockwell Medical in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 23.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RMTI shares. StockNews.com raised Rockwell Medical from a “hold” rating to a “buy” rating in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Rockwell Medical in a research report on Wednesday, September 11th.

Rockwell Medical Stock Performance

Shares of RMTI stock opened at $2.63 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.60 and a current ratio of 2.00. The firm has a market capitalization of $81.61 million, a price-to-earnings ratio of -52.60 and a beta of 1.50. Rockwell Medical, Inc. has a one year low of $1.16 and a one year high of $5.15. The company has a 50 day moving average price of $3.72 and a 200 day moving average price of $2.60.

Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Rockwell Medical had a positive return on equity of 9.27% and a negative net margin of 1.25%. The business had revenue of $28.32 million during the quarter, compared to the consensus estimate of $25.99 million. Sell-side analysts anticipate that Rockwell Medical, Inc. will post -0.03 EPS for the current year.

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.