5 Best Multibagger Penny Stocks To Buy

2. Rockwell Medical Inc. (NASDAQ:RMTI)

Stock Gains Over the Past One Year: 233%

Michigan-based Rockwell Medical Inc. (NASDAQ:RMTI) makes treatments for diseases such as end-stage renal disease and chronic kidney disease. Rockwell Medical Inc. (NASDAQ:RMTI) was recently cleared to join the Russell Microcap Index.

As of the end of the first quarter of 2023, four hedge funds tracked by Insider Monkey had stakes in Rockwell Medical Inc. (NASDAQ:RMTI). The biggest stakeholder of Rockwell Medical Inc. (NASDAQ:RMTI) was Steven Boyd’s Armistice Capital. The fund owns 364,000 shares of Rockwell Medical Inc. (NASDAQ:RMTI) as of the end of March 2023.