Richmond Brothers is Buying Rockwell Medical (NASDAQ:RMTI) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Rockwell Medical Inc. (NASDAQ:RMTI) reported that Richmond Brothers, Inc. has picked up 5,142,047 of common stock as of 2017-05-26.

The acquisition brings the aggregate amount owned by Richmond Brothers, Inc. to a total of 5,142,047 representing less than 9.9% stake in the company.

For those not familiar with the company, 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. The Company’s drug products include Triferic (ferric pyrophosphate citrate) and Calcitriol (Active Vitamin D) Injection. Triferic is an iron compound that is delivered to hemodialysis patients through dialysate, replacing the iron loss that occurs during their dialysis treatment. Calcitriol (active vitamin D) injection is indicated for treatment of secondary hyperparathyroidism in dialysis patients.

A glance at Rockwell Medical Inc. (NASDAQ:RMTI)’s key stats reveals a current market capitalization of 373.93 Million based on 52.06 Million shares outstanding and a price at last close of $7.33 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-03-22, Richmond picked up 21,076  at a purchase price of $5.94. This brings their total holding to 29,802 as of the date of the filing.

On the sell side, the most recent transaction saw Holt unload 3,200 shares at a sale price of $5.97. This brings their total holding to 12,630.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Rockwell Medical Inc. (NASDAQ:RMTI) as things move forward to see if its progress aligns with these transactions.

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