CorMedix (CRMD) Trading 3.7% Higher

CorMedix Inc. (NYSEAMERICAN:CRMD) traded up 3.7% on Wednesday . The stock traded as high as $1.94 and last traded at $1.96. 62,338 shares were traded during trading, a decline of 97% from the average session volume of 2,301,425 shares. The stock had previously closed at $1.89.

A number of research analysts have commented on the company. HC Wainwright set a $3.00 price target on CorMedix and gave the company a “buy” rating in a research report on Monday, October 15th. Zacks Investment Research raised CorMedix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Roth Capital assumed coverage on CorMedix in a research report on Thursday, December 6th. They set a “buy” rating and a $6.00 price target for the company.

CorMedix (NYSEAMERICAN:CRMD) last released its quarterly earnings data on Wednesday, November 14th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.05). The company had revenue of $0.37 million for the quarter, compared to analyst estimates of $0.05 million.

In other news, Director Myron Kaplan bought 50,000 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was bought at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the acquisition, the director now directly owns 431,166 shares in the company, valued at approximately $633,814.02. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Robert W. Cook bought 25,000 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was purchased at an average price of $1.17 per share, with a total value of $29,250.00. Following the completion of the acquisition, the chief financial officer now owns 127,083 shares of the company’s stock, valued at $148,687.11. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 478,500 shares of company stock worth $658,730.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc boosted its holdings in shares of CorMedix by 49.7% during the third quarter. Vanguard Group Inc now owns 2,673,113 shares of the biotechnology company’s stock worth $2,589,000 after purchasing an additional 886,894 shares during the period. Vanguard Group Inc. boosted its holdings in shares of CorMedix by 49.7% during the third quarter. Vanguard Group Inc. now owns 2,673,113 shares of the biotechnology company’s stock worth $2,589,000 after purchasing an additional 886,894 shares during the period. EAM Investors LLC acquired a new stake in shares of CorMedix during the third quarter worth approximately $701,000. Virtu Financial LLC boosted its holdings in shares of CorMedix by 109.7% during the third quarter. Virtu Financial LLC now owns 394,051 shares of the biotechnology company’s stock worth $382,000 after purchasing an additional 206,099 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of CorMedix by 11.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 78,890 shares of the biotechnology company’s stock worth $101,000 after purchasing an additional 8,000 shares during the period.

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About CorMedix (NYSEAMERICAN:CRMD)

CorMedix, Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States and internationally. Its primary focus is on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as dialysis, critical/intensive care, and oncology.

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