Alan Dunton Sells 10,000 Shares of CorMedix (NASDAQ:CRMD) Stock

CorMedix Inc (NASDAQ:CRMD) Director Alan Dunton sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $13.13, for a total transaction of $131,300.00. Following the transaction, the director directly owned 40,250 shares in the company, valued at $528,482.50. This represents a 19.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

CorMedix Trading Down 4.1%

NASDAQ CRMD opened at $11.12 on Thursday. The firm has a market capitalization of $868.03 million, a price-to-earnings ratio of 14.83 and a beta of 1.76. The firm’s 50 day simple moving average is $12.34 and its 200 day simple moving average is $11.25. CorMedix Inc has a 1 year low of $5.60 and a 1 year high of $17.43.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.08. The business had revenue of $39.74 million for the quarter, compared to analyst estimates of $29.88 million. CorMedix had a net margin of 42.11% and a return on equity of 42.73%. The firm’s revenue for the quarter was up 4830.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.25) EPS. On average, equities research analysts forecast that CorMedix Inc will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On CorMedix

Several hedge funds and other institutional investors have recently bought and sold shares of CRMD. Marshall Wace LLP increased its stake in CorMedix by 1,019.2% in the second quarter. Marshall Wace LLP now owns 2,579,976 shares of the company’s stock valued at $31,785,000 after purchasing an additional 2,349,451 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in CorMedix in the second quarter valued at $5,115,000. Palisades Investment Partners LLC bought a new stake in CorMedix in the fourth quarter valued at $2,949,000. Nuveen LLC bought a new stake in CorMedix in the first quarter valued at $1,692,000. Finally, Vanguard Group Inc. increased its stake in CorMedix by 7.9% in the first quarter. Vanguard Group Inc. now owns 3,646,551 shares of the company’s stock valued at $22,463,000 after purchasing an additional 268,360 shares in the last quarter. 34.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. D Boral Capital lowered shares of CorMedix from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 30th. Wall Street Zen upgraded shares of CorMedix from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 13th. D. Boral Capital lowered shares of CorMedix from a “buy” rating to a “hold” rating in a research report on Monday, June 30th. Royal Bank Of Canada upgraded shares of CorMedix from an “outperform” rating to a “moderate buy” rating and raised their target price for the company from $13.00 to $17.00 in a research report on Friday, June 20th. Finally, Needham & Company LLC raised their target price on shares of CorMedix from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.00.

About CorMedix

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.