CorMedix Inc. (CRMD) Sees Large Decline in Short Interest

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CorMedix Inc. (NYSEAMERICAN:CRMD) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 12,435,298 shares, a decline of 0.2% from the January 15th total of 12,461,207 shares. Based on an average trading volume of 3,411,338 shares, the short-interest ratio is currently 3.6 days. Currently, 12.2% of the company’s shares are sold short.

In related news, Director Myron Kaplan purchased 50,000 shares of the firm’s stock in a transaction dated Friday, November 23rd. The stock was purchased at an average price of $1.30 per share, with a total value of $65,000.00. Following the completion of the purchase, the director now owns 371,166 shares of the company’s stock, valued at approximately $482,515.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert W. Cook purchased 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The shares were bought at an average cost of $1.17 per share, with a total value of $29,250.00. Following the purchase, the chief financial officer now directly owns 127,083 shares of the company’s stock, valued at approximately $148,687.11. The disclosure for this purchase can be found here. Insiders have bought 478,500 shares of company stock valued at $658,730 in the last ninety days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRMD. EAM Investors LLC purchased a new position in CorMedix in the third quarter worth $701,000. Virtu Financial LLC grew 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 valued at $382,000 after buying an additional 206,099 shares during the last quarter. Vanguard Group Inc. grew 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 valued at $2,589,000 after buying an additional 886,894 shares during the last quarter. Vanguard Group Inc grew 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 valued at $2,589,000 after buying an additional 886,894 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew 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 valued at $101,000 after buying an additional 8,000 shares during the last quarter.

NYSEAMERICAN CRMD opened at $2.47 on Thursday. CorMedix has a 12-month low of $0.17 and a 12-month high of $2.74.

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

CRMD has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $3.50 price objective on shares of CorMedix in a research note on Friday, January 18th. Roth Capital initiated coverage on shares of CorMedix in a research note on Thursday, December 6th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Zacks Investment Research raised shares of CorMedix from a “sell” rating to a “hold” rating in a research note on Tuesday.

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CorMedix Company Profile

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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