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

CorMedix logo with Medical background

CorMedix Inc. (NASDAQ:CRMD - Get Free Report) EVP Erin Mistry acquired 1,500 shares of CorMedix stock in a transaction dated Thursday, October 31st. The stock was purchased at an average cost of $9.99 per share, for a total transaction of $14,985.00. Following the completion of the purchase, the executive vice president now directly owns 52,011 shares in the company, valued at approximately $519,589.89. This represents a 2.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

CorMedix Trading Down 4.4 %

Shares of CRMD traded down $0.39 during mid-day trading on Friday, reaching $8.38. The company had a trading volume of 858,465 shares, compared to its average volume of 742,832. The company's 50-day moving average is $10.48 and its 200-day moving average is $7.12. CorMedix Inc. has a twelve month low of $2.89 and a twelve month high of $13.85.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.05. The firm had revenue of $11.46 million for the quarter, compared to the consensus estimate of $11.00 million. During the same period in the prior year, the business earned ($0.17) earnings per share. On average, sell-side analysts predict that CorMedix Inc. will post -0.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRMD. Royal Bank of Canada restated an "outperform" rating and set a $9.00 price objective on shares of CorMedix in a research note on Thursday, August 15th. Truist Financial increased their price target on CorMedix from $12.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Needham & Company LLC boosted their price target on CorMedix from $10.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. StockNews.com raised CorMedix to a "sell" rating in a research note on Friday, November 8th. Finally, Rodman & Renshaw began coverage on CorMedix in a research note on Monday, August 26th. They issued a "buy" rating and a $13.00 target price on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, CorMedix has a consensus rating of "Moderate Buy" and a consensus target price of $15.20.

Check Out Our Latest Stock Analysis on CRMD

Institutional Investors Weigh In On CorMedix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of CorMedix by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,284,464 shares of the company's stock valued at $10,380,000 after acquiring an additional 13,171 shares during the period. Wellington Management Group LLP grew its position in shares of CorMedix by 130.7% during the 3rd quarter. Wellington Management Group LLP now owns 180,948 shares of the company's stock worth $1,462,000 after buying an additional 102,527 shares during the period. State Street Corp lifted its holdings in CorMedix by 0.8% in the third quarter. State Street Corp now owns 1,225,756 shares of the company's stock valued at $9,904,000 after buying an additional 10,204 shares during the period. Parallax Volatility Advisers L.P. bought a new position in CorMedix in the third quarter valued at approximately $648,000. Finally, BNP Paribas Financial Markets grew its holdings in 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 acquiring an additional 6,761 shares during the period. 34.18% of the stock is owned by institutional investors and hedge funds.

CorMedix Company Profile

(Get Free Report)

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.

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