CorMedix Inc. (NYSEAMERICAN:CRMD) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 4,692,803 shares, a growth of 8.3% from the January 12th total of 4,332,544 shares. Approximately 7.6% of the company’s shares are sold short. Based on an average daily volume of 651,504 shares, the short-interest ratio is presently 7.2 days.
Separately, HC Wainwright set a $4.00 price target on CorMedix and gave the stock a “buy” rating in a research note on Monday, October 16th.
CorMedix (NYSEAMERICAN:CRMD) traded down $0.02 during trading on Friday, hitting $0.44. The stock had a trading volume of 807,128 shares, compared to its average volume of 702,847. CorMedix has a 1-year low of $0.32 and a 1-year high of $2.48. The stock has a market capitalization of $31.16, a price-to-earnings ratio of -0.72 and a beta of 0.18.
Several institutional investors have recently bought and sold shares of CRMD. Sabby Management LLC purchased a new stake in shares of CorMedix during the second quarter worth $1,818,000. Susquehanna International Group LLP increased its position 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 worth $886,000 after acquiring an additional 2,085,670 shares during the period. Spinnaker Capital LLC purchased a new stake in shares of CorMedix during the fourth quarter worth $202,000. Virtu Financial LLC increased its position in shares of CorMedix by 126.4% during the fourth quarter. Virtu Financial LLC now owns 226,748 shares of the biotechnology company’s stock worth $114,000 after acquiring an additional 126,610 shares during the period. Finally, Vanguard Group Inc. increased its position 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 worth $518,000 after acquiring an additional 35,148 shares during the period.
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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