CorMedix Inc. (NYSEAMERICAN:CRMD) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 3,699,854 shares, a growth of 12.0% from the November 15th total of 3,303,567 shares. Approximately 5.8% of the company’s shares are short sold. Based on an average trading volume of 739,690 shares, the days-to-cover ratio is currently 5.0 days.

Shares of CorMedix (CRMD) traded up $0.05 during trading hours on Monday, hitting $0.61. The company had a trading volume of 2,052,908 shares, compared to its average volume of 678,508. CorMedix has a 1 year low of $0.32 and a 1 year high of $2.48.

Large investors have recently modified their holdings of the stock. Elliott Management Corp increased its position in shares of CorMedix by 177.8% during the 2nd quarter. Elliott Management Corp now owns 4,166,868 shares of the biotechnology company’s stock worth $1,785,000 after purchasing an additional 2,666,668 shares during the last quarter. Susquehanna International Group LLP increased its position in shares of CorMedix by 11,785.4% during the 2nd quarter. Susquehanna International Group LLP now owns 2,067,973 shares of the biotechnology company’s stock worth $886,000 after purchasing an additional 2,085,670 shares during the last quarter. Sabby Management LLC acquired a new stake in shares of CorMedix during the 2nd quarter worth about $1,818,000. Finally, Vanguard Group Inc. increased its position in shares of CorMedix by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,208,894 shares of the biotechnology company’s stock worth $518,000 after purchasing an additional 35,148 shares during the last quarter.

CRMD has been the subject of a number of recent research reports. Zacks Investment Research raised CorMedix from a “hold” rating to a “buy” rating and set a $0.50 target price for the company in a research note on Friday, September 8th. HC Wainwright reissued a “buy” rating and set a $4.00 price objective (up from $3.00) on shares of CorMedix in a research report on Monday, September 25th.

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CorMedix Company Profile

CorMedix Inc is a commercial pharmaceutical and medical device company. The Company in-licenses, develops and commercializes prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The Company has in-licensed the rights to develop and commercialize its product candidate, CRMD003 (Neutrolin), which addresses market opportunities in the instances in which a central venous catheter is used, such as hemodialysis, intensive care units, oncology, and patients receiving total parenteral nutrition, intravenous (IV) hydration, and/or IV medications.

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