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.
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.
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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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