CorMedix Inc. (NYSEMKT:CRMD) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 2,715,967 shares, an increase of 28.2% from the October 13th total of 2,118,383 shares. Currently, 4.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 944,548 shares, the short-interest ratio is currently 2.9 days.

CorMedix (NYSEMKT CRMD) traded down $0.06 during midday trading on Monday, hitting $0.51. 1,200,000 shares of the company’s stock were exchanged, compared to its average volume of 1,820,000. CorMedix has a 12-month low of $0.32 and a 12-month high of $2.48.

CRMD has been the topic of a number of research reports. HC Wainwright set a $3.00 target price on shares of CorMedix and gave the stock a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research cut shares of CorMedix from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Finally, Rodman & Renshaw decreased their target price on shares of CorMedix from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, August 10th.

In other news, Director Mehmood Khan acquired 400,000 shares of the stock in a transaction on Friday, August 18th. The stock was acquired at an average cost of $0.39 per share, for a total transaction of $156,000.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at $19,500. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Myron Kaplan acquired 80,000 shares of the stock in a transaction on Thursday, August 17th. The shares were purchased at an average price of $0.40 per share, with a total value of $32,000.00. Following the completion of the transaction, the director now owns 180,000 shares of the company’s stock, valued at $72,000. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 516,207 shares of company stock valued at $203,207.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew 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 worth $518,000 after buying an additional 35,148 shares during the last quarter. Susquehanna International Group LLP grew its stake in shares of CorMedix by 11,785.4% in the second quarter. Susquehanna International Group LLP now owns 2,067,973 shares of the biotechnology company’s stock worth $886,000 after purchasing an additional 2,085,670 shares during the last quarter. Elliott Management Corp grew its stake in shares of CorMedix by 177.8% in the second quarter. Elliott Management Corp now owns 4,166,868 shares of the biotechnology company’s stock worth $1,785,000 after purchasing an additional 2,666,668 shares during the last quarter. Finally, Sabby Management LLC bought a new stake in shares of CorMedix in the second quarter worth $1,818,000.

ILLEGAL ACTIVITY WARNING: “CorMedix Inc. (CRMD) Short Interest Update” was first reported by Daily Political and is the sole property of of Daily Political. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/11/13/cormedix-inc-crmd-short-interest-update.html.

About CorMedix

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.

Receive News & Ratings for CorMedix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CorMedix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.