CorMedix (CRMD) Sees Large Volume Increase
CorMedix Inc. (NYSEAMERICAN:CRMD) saw unusually-high trading volume on Monday . Approximately 2,052,908 shares traded hands during trading, an increase of 203% from the previous session’s volume of 678,508 shares.The stock last traded at $0.61 and had previously closed at $0.56.
CRMD has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of CorMedix from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. HC Wainwright set a $4.00 target price on shares of CorMedix and gave the company a “buy” rating in a research note on Monday, October 16th.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of CorMedix by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,208,894 shares of the biotechnology company’s stock worth $518,000 after acquiring an additional 35,148 shares in the last quarter. Susquehanna International Group LLP increased its stake in CorMedix by 11,785.4% during the 2nd quarter. Susquehanna International Group LLP now owns 2,067,973 shares of the biotechnology company’s stock valued at $886,000 after purchasing an additional 2,085,670 shares in the last quarter. Elliott Management Corp increased its stake in CorMedix by 177.8% during the 2nd quarter. Elliott Management Corp now owns 4,166,868 shares of the biotechnology company’s stock valued at $1,785,000 after purchasing an additional 2,666,668 shares in the last quarter. Finally, Sabby Management LLC bought a new stake in CorMedix during the 2nd quarter valued at about $1,818,000.
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CorMedix Company Profile
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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