CorMedix Inc. (NASDAQ:CRMD – Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 8,250,000 shares, an increase of 6.2% from the March 15th total of 7,770,000 shares. Based on an average daily trading volume, of 443,800 shares, the short-interest ratio is presently 18.6 days.
CorMedix Stock Up 0.6 %
NASDAQ CRMD opened at $5.41 on Wednesday. CorMedix has a 1 year low of $2.57 and a 1 year high of $7.00. The business’s fifty day moving average is $3.86 and its two-hundred day moving average is $3.58.
CorMedix (NASDAQ:CRMD – Get Free Report) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.05). On average, equities analysts anticipate that CorMedix will post -0.83 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Get Our Latest Stock Report on CRMD
Insider Activity
In other news, CEO Joseph Todisco bought 13,561 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average price of $3.74 per share, with a total value of $50,718.14. Following the completion of the acquisition, the chief executive officer now directly owns 352,839 shares in the company, valued at $1,319,617.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.60% of the company’s stock.
Hedge Funds Weigh In On CorMedix
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of CorMedix during the 1st quarter valued at $38,000. Renaissance Technologies LLC acquired a new stake in shares of CorMedix in the 3rd quarter valued at $38,000. Bayesian Capital Management LP acquired a new stake in shares of CorMedix in the 4th quarter valued at $40,000. Ameriprise Financial Inc. acquired a new stake in shares of CorMedix in the 3rd quarter valued at $40,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of CorMedix in the 2nd quarter valued at $44,000. 34.18% of the stock is currently owned by hedge funds and other institutional investors.
CorMedix Company Profile
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. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.
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