CorMedix (NASDAQ:CRMD) Trading Down 6% – Should You Sell?

CorMedix Inc (NASDAQ:CRMD)’s stock price traded down 6% on Tuesday . The stock traded as low as $9.37 and last traded at $9.2330. 820,810 shares traded hands during trading, a decline of 65% from the average session volume of 2,339,206 shares. The stock had previously closed at $9.82.

Analyst Ratings Changes

CRMD has been the topic of several recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 target price on shares of CorMedix in a report on Tuesday, September 9th. Weiss Ratings reissued a “hold (c)” rating on shares of CorMedix in a research note on Wednesday, October 8th. Needham & Company LLC decreased their price objective on CorMedix from $20.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. D. Boral Capital reaffirmed a “buy” rating and set a $14.00 price target on shares of CorMedix in a research report on Wednesday, November 12th. Finally, HC Wainwright increased their target price on shares of CorMedix from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $18.33.

CorMedix Trading Down 5.1%

The firm has a 50-day moving average price of $11.03 and a 200-day moving average price of $12.08. The stock has a market capitalization of $734.31 million, a PE ratio of 12.42 and a beta of 1.80.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.78. CorMedix had a net margin of 42.11% and a return on equity of 42.73%. The company had revenue of $104.28 million for the quarter, compared to analyst estimates of $65.63 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was up 810.2% compared to the same quarter last year. CorMedix has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts expect that CorMedix Inc will post -0.32 earnings per share for the current fiscal year.

Insider Transactions at CorMedix

In other news, insider Kaufman Beth Zelnick sold 50,000 shares of CorMedix stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $13.41, for a total transaction of $670,500.00. Following the completion of the sale, the insider owned 180,418 shares in the company, valued at approximately $2,419,405.38. This trade represents a 21.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph Todisco sold 50,000 shares of CorMedix stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $13.00, for a total value of $650,000.00. Following the sale, the chief executive officer directly owned 509,496 shares of the company’s stock, valued at approximately $6,623,448. This trade represents a 8.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 163,997 shares of company stock worth $2,163,617. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its position in shares of CorMedix by 10.4% during the 1st quarter. Bank of New York Mellon Corp now owns 143,238 shares of the company’s stock valued at $882,000 after buying an additional 13,543 shares in the last quarter. Private Advisor Group LLC increased its stake in CorMedix by 427.1% in the 1st quarter. Private Advisor Group LLC now owns 85,509 shares of the company’s stock worth $527,000 after buying an additional 69,285 shares during the period. KLP Kapitalforvaltning AS bought a new position in CorMedix in the first quarter worth approximately $72,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of CorMedix during the first quarter valued at $93,000. Finally, XTX Topco Ltd raised its holdings in shares of CorMedix by 234.2% in the 1st quarter. XTX Topco Ltd now owns 39,333 shares of the company’s stock valued at $242,000 after purchasing an additional 27,562 shares in the last quarter. Hedge funds and other institutional investors own 34.18% of the company’s stock.

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.