Is Rockwell Medical Inc (RMTI) A Good Stock To Buy? Stock Spikes Over 8%

Page 2 of 2

When looking at the hedgies followed by Insider Monkey, Overland Advisors, managed by Gordy Holterman and Derek Dunn, holds the most valuable position in Rockwell Medical Inc (NASDAQ:RMTI). Overland Advisors has a $4.6 million position in 425,000 shares, comprising 0.2% of its 13F portfolio. The second most bullish hedge fund manager is Cormorant Asset Management, managed by Bihua Chen, which held a $3.7 million position in 340,000; the fund has 0.6% of its 13F portfolio invested in the stock. Some other peers that hold long positions consist of Peter Kolchinsky’s RA Capital Management, and Neil Chriss’s Hutchin Hill Capital.

Since Rockwell Medical Inc (NASDAQ:RMTI) has witnessed falling interest from the smart money, it’s safe to say that there is a sect of fund managers that slashed their entire stakes heading into Q2. At the top of the heap, Hal Mintz’s Sabby Capital dropped the biggest investment of all the hedgies followed by Insider Monkey. The fund dumped 275,000 shares or close to $2.8 million. And Anand Parekh of Alyeska Investment Group was right behind this move, as the fund cut about $1 million worth of stock. These transactions are intriguing to say the least, as aggregate hedge fund interest fell by 3 funds heading into Q2.

Hedge fund interest in the stock is declining and biotech stocks in general can’t be said to be cheap, so we don’t recommend a long position in Rockwell Medical Inc (NASDAQ:RMTI).

Disclosure: None

Page 2 of 2