Short Interest in CorMedix Inc. (CRMD) Increases By 20.4%

CorMedix Inc. (NYSEAMERICAN:CRMD) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 4,456,413 shares, a growth of 20.4% from the November 30th total of 3,699,854 shares. Currently, 7.1% of the shares of the stock are short sold. Based on an average daily volume of 1,365,493 shares, the short-interest ratio is currently 3.3 days.

In other CorMedix news, Director Steven W. Lefkowitz purchased 135,416 shares of CorMedix stock in a transaction that occurred on Tuesday, December 12th. The shares were bought at an average price of $0.48 per share, for a total transaction of $64,999.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Khoso Baluch acquired 104,166 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were purchased at an average price of $0.48 per share, for a total transaction of $49,999.68. Following the transaction, the chief executive officer now directly owns 225,373 shares of the company’s stock, valued at $108,179.04. The disclosure for this purchase can be found here. Insiders purchased 312,498 shares of company stock worth $149,999 in the last 90 days.

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of CorMedix by 3.0% during the second quarter. Vanguard Group Inc. now owns 1,208,894 shares of the biotechnology company’s stock valued at $518,000 after purchasing an additional 35,148 shares during the period. Susquehanna International Group LLP boosted its stake in shares of CorMedix by 11,785.4% during the second quarter. Susquehanna International Group LLP now owns 2,067,973 shares of the biotechnology company’s stock valued at $886,000 after purchasing an additional 2,085,670 shares during the period. Elliott Management Corp boosted its stake in shares of CorMedix by 177.8% during the second quarter. Elliott Management Corp now owns 4,166,868 shares of the biotechnology company’s stock valued at $1,785,000 after purchasing an additional 2,666,668 shares during the period. Finally, Sabby Management LLC purchased a new stake in shares of CorMedix during the second quarter valued at $1,818,000.

A number of research firms have weighed in on CRMD. Zacks Investment Research cut shares of CorMedix from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. HC Wainwright reiterated a “buy” rating and set a $4.00 price objective (up previously from $3.00) on shares of CorMedix in a research report on Monday, September 25th.

CorMedix (CRMD) traded down $0.02 during mid-day trading on Wednesday, reaching $0.54. 1,701,754 shares of the company’s stock were exchanged, compared to its average volume of 704,208. CorMedix has a fifty-two week low of $0.32 and a fifty-two week high of $2.48. The company has a market capitalization of $38.87, a PE ratio of -0.89 and a beta of 0.52.

ILLEGAL ACTIVITY WARNING: This piece was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was illegally copied and republished in violation of international copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/12/27/short-interest-in-cormedix-inc-crmd-increases-by-20-4.html.

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.

Receive News & Ratings for CorMedix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CorMedix and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply