The 6,952 Shares of Rockwell Medical Inc. (RMTI) are sold by Bank of New York Mellon Corp

The 6,952 Shares of Rockwell Medical Inc. (RMTI) are sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Rockwell Medical Inc. (NASDAQ:RMTI) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,405 shares of the company’s stock after selling 6,952 shares during the period. Bank of New York Mellon Corp owned 0.47% of Rockwell Medical worth $1,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Starfire Investment Advisers Inc. acquired a new position in Rockwell Medical during the second quarter worth about $100,000. WealthTrust Axiom LLC purchased a new stake in shares of Rockwell Medical during the second quarter valued at $100,000. Rehmann Capital Advisory Group increased its stake in shares of Rockwell Medical by 3.6% in the first quarter. Rehmann Capital Advisory Group now owns 17,286 shares of the company’s stock valued at $130,000 after buying an additional 600 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Rockwell Medical during the second quarter valued at $236,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Rockwell Medical by 26.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 43,247 shares of the company’s stock valued at $325,000 after buying an additional 9,178 shares in the last quarter. Institutional investors own 21.72% of the company’s stock.

Rockwell Medical Inc. (NASDAQ:RMTI) traded up 1.21% during trading on Friday, reaching $6.69. 108,247 shares of the company’s stock traded hands. The company’s market capitalization is $344.71 million. Rockwell Medical Inc. has a 12 month low of $5.47 and a 12 month high of $13.50. The firm’s 50 day moving average is $6.93 and its 200-day moving average is $7.81.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The business earned $12.50 million during the quarter, compared to the consensus estimate of $13.86 million. Rockwell Medical had a negative net margin of 33.04% and a negative return on equity of 28.90%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. Analysts expect that Rockwell Medical Inc. will post ($0.37) EPS for the current fiscal year.

RMTI has been the topic of several recent research reports. BTIG Research initiated coverage on shares of Rockwell Medical in a research report on Friday, August 19th. They issued a “buy” rating and a $12.00 price objective on the stock. Zacks Investment Research downgraded shares of Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $11.00.

In other Rockwell Medical news, Director Kenneth L. Holt sold 9,520 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $6.37, for a total value of $60,642.40. Following the sale, the director now owns 56,048 shares of the company’s stock, valued at approximately $357,025.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth L. Holt sold 3,692 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $7.31, for a total transaction of $26,988.52. Following the completion of the sale, the director now directly owns 63,475 shares in the company, valued at approximately $464,002.25. The disclosure for this sale can be found here. 15.90% of the stock is currently owned by company insiders.

About Rockwell Medical

Rockwell Medical, Inc (Rockwell) is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. The Company operates through the hemodialysis market segment, which involves the manufacture, sale and distribution of hemodialysis products to hemodialysis clinics, including pharmaceutical, dialysis concentrates, dialysis kits and other ancillary products used in the dialysis process.

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