CorMedix Inc. (NYSEAMERICAN:CRMD) was the target of a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 4,000,834 shares, a decline of 10.2% from the December 15th total of 4,456,413 shares. Based on an average trading volume of 1,626,878 shares, the days-to-cover ratio is presently 2.5 days. Currently, 6.4% of the shares of the stock are short sold.
Shares of CorMedix (NYSEAMERICAN:CRMD) opened at $0.53 on Thursday. CorMedix has a 1-year low of $0.32 and a 1-year high of $2.48. The firm has a market capitalization of $36.99, a price-to-earnings ratio of -0.87 and a beta of 0.52.
In related news, CEO Khoso Baluch bought 104,166 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were purchased at an average price of $0.48 per share, with a total value of $49,999.68. Following the transaction, the chief executive officer now owns 225,373 shares in the company, valued at approximately $108,179.04. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven W. Lefkowitz bought 135,416 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were bought at an average cost of $0.48 per share, for a total transaction of $64,999.68. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 312,498 shares of company stock worth $149,999.
Several hedge funds have recently modified their holdings of CRMD. Vanguard Group Inc. lifted its holdings in shares of CorMedix by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,208,894 shares of the biotechnology company’s stock worth $518,000 after buying an additional 35,148 shares during the period. Susquehanna International Group LLP lifted its holdings in shares of CorMedix by 11,785.4% in the 2nd quarter. Susquehanna International Group LLP now owns 2,067,973 shares of the biotechnology company’s stock worth $886,000 after buying an additional 2,085,670 shares during the period. Elliott Management Corp lifted its stake in shares of CorMedix by 177.8% during the 2nd quarter. Elliott Management Corp now owns 4,166,868 shares of the biotechnology company’s stock worth $1,785,000 after purchasing an additional 2,666,668 shares during the last quarter. Finally, Sabby Management LLC purchased a new stake in shares of CorMedix during the 2nd quarter worth $1,818,000.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded CorMedix from a “hold” rating to a “buy” rating and set a $0.50 price objective for the company in a report on Monday, September 25th. HC Wainwright reiterated a “buy” rating and issued a $4.00 target price (up from $3.00) on shares of CorMedix in a report on Monday, September 25th.
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CorMedix Inc is a commercial pharmaceutical and medical device company. The Company in-licenses, develops and commercializes prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The Company has in-licensed the rights to develop and commercialize its product candidate, CRMD003 (Neutrolin), which addresses market opportunities in the instances in which a central venous catheter is used, such as hemodialysis, intensive care units, oncology, and patients receiving total parenteral nutrition, intravenous (IV) hydration, and/or IV medications.
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