CorMedix (CRMD) Trading 8.1% Higher

CorMedix Inc. (NYSEAMERICAN:CRMD) shares traded up 8.1% during mid-day trading on Monday . The stock traded as high as $2.18 and last traded at $2.13. 3,907,457 shares traded hands during trading, an increase of 46% from the average session volume of 2,675,159 shares. The stock had previously closed at $1.97.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of CorMedix from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. HC Wainwright reiterated a “buy” rating and set a $3.50 price target on shares of CorMedix in a report on Friday, January 18th. Finally, Roth Capital assumed coverage on shares of CorMedix in a report on Thursday, December 6th. They set a “buy” rating and a $6.00 price target for the company.

CorMedix (NYSEAMERICAN:CRMD) last posted 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 during the quarter, compared to analyst estimates of $0.05 million.



In related news, Director Myron Kaplan acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The stock was acquired at an average cost of $1.30 per share, for a total transaction of $65,000.00. Following the completion of the acquisition, the director now directly owns 371,166 shares of the company’s stock, valued at approximately $482,515.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jr. John L. Armstrong acquired 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The stock was bought at an average price of $1.45 per share, with a total value of $362,500.00. Following the completion of the acquisition, the vice president now directly owns 288,861 shares of the company’s stock, valued at $418,848.45. The disclosure for this purchase can be found here. Insiders purchased 478,500 shares of company stock valued at $658,730 over the last 90 days.

A number of institutional investors have recently modified their holdings of CRMD. BlackRock Inc. grew its holdings in CorMedix by 374.4% during the 4th quarter. BlackRock Inc. now owns 2,656,672 shares of the biotechnology company’s stock worth $3,427,000 after acquiring an additional 2,096,663 shares during the period. Vanguard Group Inc grew its holdings in CorMedix by 49.7% during the 3rd quarter. Vanguard Group Inc now owns 2,673,113 shares of the biotechnology company’s stock worth $2,589,000 after acquiring an additional 886,894 shares during the period. Vanguard Group Inc. grew its holdings in CorMedix by 49.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,673,113 shares of the biotechnology company’s stock worth $2,589,000 after acquiring an additional 886,894 shares during the period. EAM Investors LLC acquired a new stake in CorMedix during the 3rd quarter worth about $701,000. Finally, Virtu Financial LLC boosted its position in shares of CorMedix by 109.7% during the 3rd 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 in the last quarter.

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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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