Rockwell Medical (NASDAQ:RMTI) issued its quarterly earnings data on Friday. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05, MarketWatch Earnings reports. Rockwell Medical had a negative return on equity of 89.63% and a negative net margin of 55.38%. The company had revenue of $16.67 million during the quarter, compared to analysts’ expectations of $15.00 million.
Shares of NASDAQ RMTI traded up $0.79 during midday trading on Friday, reaching $4.38. The company’s stock had a trading volume of 485,859 shares, compared to its average volume of 151,407. Rockwell Medical has a fifty-two week low of $3.55 and a fifty-two week high of $6.98. The company has a market cap of $198.54 million, a price-to-earnings ratio of -8.59 and a beta of 1.42.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its position in shares of Rockwell Medical by 13.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 108,942 shares of the company’s stock valued at $538,000 after buying an additional 13,042 shares in the last quarter. Sigma Investment Counselors Inc. raised its position in shares of Rockwell Medical by 24.3% in the third quarter. Sigma Investment Counselors Inc. now owns 86,834 shares of the company’s stock valued at $366,000 after buying an additional 17,000 shares in the last quarter. BlackRock Inc. raised its position in shares of Rockwell Medical by 0.8% in the third quarter. BlackRock Inc. now owns 3,221,245 shares of the company’s stock valued at $13,593,000 after buying an additional 25,322 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of Rockwell Medical by 59.0% in the second quarter. Raymond James & Associates now owns 128,276 shares of the company’s stock valued at $632,000 after buying an additional 47,600 shares in the last quarter. Institutional investors own 22.15% of the company’s stock.
About Rockwell Medical
Rockwell Medical, Inc operates as an integrated biopharmaceutical company targeting end-stage renal and chronic kidney diseases in the United States and internationally. The company's lead drug includes Triferic, an iron maintenance therapy that replaces the iron lost by patients during hemodialysis treatment.
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