CorMedix (CRMD) Shares Up 8.1%

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CorMedix Inc. (NYSEAMERICAN:CRMD)’s share price shot up 8.1% during trading on Monday . The stock traded as high as $2.18 and last traded at $2.13. 3,907,457 shares were traded during trading, an increase of 46% from the average session volume of 2,675,159 shares. The stock had previously closed at $1.97.

Several research firms have commented on CRMD. HC Wainwright set a $3.00 target price on shares of CorMedix and gave the stock a “buy” rating in a research report on Monday, October 15th. Zacks Investment Research raised shares of CorMedix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Roth Capital began coverage on shares of CorMedix in a research report on Thursday, December 6th. They set a “buy” rating and a $6.00 target price on the stock.

CorMedix (NYSEAMERICAN:CRMD) last issued 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 firm had revenue of $0.37 million for the quarter, compared to the consensus estimate of $0.05 million.

In related news, VP Jr. John L. Armstrong purchased 250,000 shares of the firm’s stock in a transaction dated Thursday, November 29th. The stock was bought at an average price of $1.45 per share, for a total transaction of $362,500.00. Following the purchase, the vice president now directly owns 288,861 shares in the company, valued at approximately $418,848.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mehmood Khan purchased 100,000 shares of the firm’s stock in a transaction dated Thursday, December 20th. The shares were bought at an average price of $1.24 per share, with a total value of $124,000.00. Following the purchase, the director now owns 564,583 shares in the company, valued at $700,082.92. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 478,500 shares of company stock valued at $658,730.

Hedge funds have recently modified their holdings of the company. EAM Investors LLC purchased a new position in CorMedix in the 3rd quarter valued at approximately $701,000. Virtu Financial LLC grew its stake in CorMedix by 109.7% in the 3rd 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 in the last quarter. Steward Partners Investment Advisory LLC grew its stake in CorMedix by 11.3% in the 4th 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 in the last quarter. Wealthstreet Investment Advisors LLC grew its stake in CorMedix by 111.1% in the 4th quarter. Wealthstreet Investment Advisors LLC now owns 57,000 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 30,000 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in CorMedix by 300.1% in the 4th quarter. Bank of New York Mellon Corp now owns 150,689 shares of the biotechnology company’s stock valued at $194,000 after buying an additional 113,029 shares in the last quarter.

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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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