Shares of CorMedix Inc. (NYSEAMERICAN:CRMD) dropped 3.3% during mid-day trading on Monday . The company traded as low as $0.27 and last traded at $0.31. Approximately 1,419,246 shares were traded during trading, a decline of 9% from the average daily volume of 1,561,303 shares. The stock had previously closed at $0.30.
The firm has a market capitalization of $18.50, a price-to-earnings ratio of -0.51 and a beta of 0.60.
A number of institutional investors and hedge funds have recently modified their holdings of CRMD. Virtu Financial LLC lifted its holdings in CorMedix by 126.4% during the 4th quarter. Virtu Financial LLC now owns 226,748 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 126,610 shares in the last quarter. Spinnaker Capital LLC purchased a new stake in CorMedix during the 4th quarter worth about $202,000. Finally, Vanguard Group Inc. lifted its holdings in CorMedix by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,208,894 shares of the biotechnology company’s stock worth $518,000 after purchasing an additional 35,148 shares in the last quarter.
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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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