CorMedix Inc. (NASDAQ:CRMD) Short Interest Up 5.6% in July

CorMedix Inc. (NASDAQ:CRMD) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 10,360,000 shares, a growth of 5.6% from the June 30th total of 9,810,000 shares. Based on an average daily trading volume, of 530,200 shares, the short-interest ratio is presently 19.5 days.

CorMedix Stock Down 3.4 %

Shares of CRMD opened at $4.52 on Wednesday. The firm’s 50 day moving average price is $4.72 and its two-hundred day moving average price is $4.37. CorMedix has a twelve month low of $2.57 and a twelve month high of $7.00.

CorMedix (NASDAQ:CRMD) last released its earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. On average, equities analysts forecast that CorMedix will post -0.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CRMD. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of CorMedix in a research note on Wednesday, June 19th. Truist Financial reduced their target price on CorMedix from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $19.00 price target on shares of CorMedix in a research report on Tuesday, April 9th.

Institutional Investors Weigh In On CorMedix

A number of hedge funds and other institutional investors have recently bought and sold shares of CRMD. Principal Financial Group Inc. acquired a new position in CorMedix during the 2nd quarter worth approximately $44,000. Tower Research Capital LLC TRC lifted its position in shares of CorMedix by 325.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,981 shares of the company’s stock worth $53,000 after purchasing an additional 10,695 shares in the last quarter. Tidal Investments LLC acquired a new position in CorMedix during the first quarter worth $60,000. Price T Rowe Associates Inc. MD grew its position in CorMedix by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock valued at $63,000 after purchasing an additional 2,562 shares in the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new stake in CorMedix in the 4th quarter valued at $90,000. Institutional investors and hedge funds own 34.18% of the company’s stock.

About CorMedix

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. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.