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 5,172,452 of common stock as of 2017-03-23.
The acquisition brings the aggregate amount owned by Richmond Brothers, Inc. to a total of 5,172,452 representing a 10.0% 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. Its lead branded drug, Triferic is indicated for iron maintenance. Triferic is an iron compound that is delivered to hemodialysis patients through dialysate, replacing the iron loss that occurs during their dialysis treatment. Its generic drug, Calcitriol, is indicated for treating secondary hyperparathyroidism in dialysis patients. It manufactures, sells, delivers and distributes hemodialysis concentrates, along with a range of ancillary products.
A glance at Rockwell Medical Inc. (NASDAQ:RMTI)’s key stats reveals a current market capitalization of 315.74 Million based on 51.53 Million shares outstanding and a price at last close of $5.88 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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