Adam Kalbermatten Purchases 12,500 Shares of KORU Medical Systems (NASDAQ:KRMD) Stock

KORU Medical Systems, Inc. (NASDAQ:KRMD) insider Adam Kalbermatten bought 12,500 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $3.94 per share, with a total value of $49,250.00. Following the completion of the purchase, the insider owned 312,500 shares in the company, valued at $1,231,250. This represents a 4.17% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

KORU Medical Systems Stock Up 1.8%

KORU Medical Systems stock opened at $3.94 on Wednesday. The stock has a market capitalization of $180.96 million, a PE ratio of -78.80 and a beta of 0.43. KORU Medical Systems, Inc. has a twelve month low of $2.91 and a twelve month high of $6.61. The company has a 50 day moving average of $4.08 and a 200-day moving average of $4.81.

Hedge Funds Weigh In On KORU Medical Systems

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC increased its holdings in KORU Medical Systems by 927.4% during the first quarter. Cubist Systematic Strategies LLC now owns 77,280 shares of the company’s stock worth $196,000 after buying an additional 69,758 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of KORU Medical Systems by 189.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company’s stock worth $617,000 after purchasing an additional 158,914 shares during the last quarter. Jane Street Group LLC increased its stake in shares of KORU Medical Systems by 136.7% during the 1st quarter. Jane Street Group LLC now owns 163,137 shares of the company’s stock worth $414,000 after purchasing an additional 94,214 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of KORU Medical Systems in the 1st quarter valued at about $63,000. Finally, Geode Capital Management LLC lifted its stake in KORU Medical Systems by 101.3% in the 2nd quarter. Geode Capital Management LLC now owns 997,147 shares of the company’s stock valued at $3,571,000 after purchasing an additional 501,875 shares during the last quarter. 58.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on KRMD shares. B. Riley Financial lifted their price target on KORU Medical Systems from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $6.00 price objective on shares of KORU Medical Systems in a research report on Friday, March 13th. Weiss Ratings downgraded KORU Medical Systems from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 29th. Finally, Wall Street Zen cut KORU Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria. Its products include the FREEDOM60 syringe infusion system, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing products.