CorMedix Inc. (CRMD) Short Interest Update
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.
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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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