CorMedix Inc. (NASDAQ:CRMD) EVP Buys $14,985.00 in Stock

CorMedix Inc. (NASDAQ:CRMD) EVP Erin Mistry purchased 1,500 shares of CorMedix stock in a transaction that occurred on Thursday, October 31st. The shares were acquired at an average price of $9.99 per share, with a total value of $14,985.00. Following the acquisition, the executive vice president now directly owns 52,011 shares of the company’s stock, valued at $519,589.89. This trade represents a 2.97 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CorMedix Stock Down 4.4 %

CRMD traded down $0.39 during trading on Friday, hitting $8.38. The company’s stock had a trading volume of 858,465 shares, compared to its average volume of 742,832. The business’s 50 day simple moving average is $10.48 and its 200-day simple moving average is $7.12. CorMedix Inc. has a one year low of $2.89 and a one year high of $13.85.

CorMedix (NASDAQ:CRMD) last announced its earnings results on Wednesday, October 30th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $11.46 million during the quarter, compared to analysts’ expectations of $11.00 million. During the same quarter last year, the firm posted ($0.17) EPS. As a group, equities analysts forecast that CorMedix Inc. will post -0.46 EPS for the current year.

Institutional Trading of CorMedix

Several large investors have recently added to or reduced their stakes in CRMD. FMR LLC increased its position in shares of CorMedix by 54.3% during the third quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after purchasing an additional 1,625 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in CorMedix during the 2nd quarter valued at approximately $44,000. BNP Paribas Financial Markets grew its stake in shares of CorMedix by 130.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock worth $97,000 after purchasing an additional 6,761 shares during the period. AlphaMark Advisors LLC acquired a new stake in shares of CorMedix in the third quarter valued at approximately $97,000. Finally, Palumbo Wealth Management LLC purchased a new position in shares of CorMedix during the third quarter valued at approximately $100,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on CRMD shares. Needham & Company LLC lifted their price objective on shares of CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Rodman & Renshaw began coverage on shares of CorMedix in a research report on Monday, August 26th. They set a “buy” rating and a $13.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $9.00 price target on shares of CorMedix in a research note on Thursday, August 15th. Truist Financial lifted their target price on shares of CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com upgraded CorMedix to a “sell” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.20.

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.