Point72 Asia Singapore Pte. Ltd. Invests $107,000 in KORU Medical Systems, Inc. (NASDAQ:KRMD)

Point72 Asia Singapore Pte. Ltd. acquired a new position in KORU Medical Systems, Inc. (NASDAQ:KRMD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 40,441 shares of the company’s stock, valued at approximately $107,000. Point72 Asia Singapore Pte. Ltd. owned approximately 0.09% of KORU Medical Systems at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. First Light Asset Management LLC grew its stake in shares of KORU Medical Systems by 1.1% during the first quarter. First Light Asset Management LLC now owns 5,220,990 shares of the company’s stock worth $12,322,000 after acquiring an additional 57,253 shares during the last quarter. Archon Capital Management LLC grew its position in KORU Medical Systems by 6.2% during the 1st quarter. Archon Capital Management LLC now owns 3,951,393 shares of the company’s stock worth $9,325,000 after purchasing an additional 230,517 shares during the last quarter. Vanguard Group Inc. increased its stake in KORU Medical Systems by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,961,764 shares of the company’s stock valued at $4,630,000 after purchasing an additional 51,890 shares in the last quarter. Lakewood Asset Management LLC raised its holdings in shares of KORU Medical Systems by 13.9% in the second quarter. Lakewood Asset Management LLC now owns 68,225 shares of the company’s stock worth $181,000 after buying an additional 8,300 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of KORU Medical Systems during the first quarter worth $63,000. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

KORU Medical Systems Trading Up 2.6 %

Shares of KORU Medical Systems stock opened at $2.77 on Friday. The stock has a market cap of $127.00 million, a PE ratio of -9.89 and a beta of 0.42. The firm has a fifty day moving average price of $2.44 and a 200 day moving average price of $2.36. KORU Medical Systems, Inc. has a 1 year low of $1.98 and a 1 year high of $3.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.77 and a quick ratio of 3.27.

KORU Medical Systems (NASDAQ:KRMD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. KORU Medical Systems had a negative return on equity of 20.82% and a negative net margin of 38.16%. The business had revenue of $8.43 million during the quarter, compared to analyst estimates of $7.52 million. During the same quarter last year, the business posted ($0.05) EPS. Equities research analysts predict that KORU Medical Systems, Inc. will post -0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

KRMD has been the topic of several research reports. Piper Sandler upped their target price on KORU Medical Systems from $2.50 to $3.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. B. Riley started coverage on KORU Medical Systems in a research note on Thursday, July 25th. They issued a “buy” rating and a $4.00 price objective for the company.

KORU Medical Systems 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.