CorMedix (CRMD) Shares Down 17.7%

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CorMedix Inc. (NYSEAMERICAN:CRMD) dropped 17.7% on Thursday . The company traded as low as $0.92 and last traded at $0.93. Approximately 2,986,047 shares traded hands during trading, an increase of 9% from the average daily volume of 2,750,527 shares. The stock had previously closed at $1.13.

CRMD has been the subject of a number of research analyst reports. Zacks Investment Research cut CorMedix from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. HC Wainwright set a $3.00 price target on CorMedix and gave the company a “buy” rating in a research note on Wednesday, August 15th.

CorMedix (NYSEAMERICAN:CRMD) last released its quarterly earnings results on Tuesday, August 14th. The biotechnology company reported ($0.10) EPS for the quarter, meeting analysts’ consensus estimates of ($0.10). The business had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.10 million.

An institutional investor recently raised its position in CorMedix stock. Virtu Financial LLC lifted its position in CorMedix Inc. (NYSEAMERICAN:CRMD) by 109.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 394,051 shares of the biotechnology company’s stock after purchasing an additional 206,099 shares during the quarter. Virtu Financial LLC owned about 0.39% of CorMedix worth $382,000 as of its most recent SEC filing.

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CorMedix Company Profile (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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