CorMedix (CRMD) Trading Up 18.2%
Shares of CorMedix Inc. (NYSEAMERICAN:CRMD) were up 18.2% during mid-day trading on Monday . The company traded as high as $0.55 and last traded at $0.52. Approximately 2,678,852 shares traded hands during mid-day trading, an increase of 247% from the average daily volume of 771,174 shares. The stock had previously closed at $0.44.
Separately, HC Wainwright set a $4.00 price objective on shares of CorMedix and gave the company a “buy” rating in a report on Monday, October 16th.
The stock has a market capitalization of $28.59, a price-to-earnings ratio of -0.89 and a beta of 0.18.
A number of hedge funds have recently added to or reduced their stakes in CRMD. Sabby Management LLC acquired a new position in CorMedix during the 2nd quarter worth approximately $1,818,000. Spinnaker Capital LLC acquired a new position in CorMedix during the 4th quarter worth approximately $202,000. Virtu Financial LLC increased its position in CorMedix by 126.4% during the 4th quarter. Virtu Financial LLC now owns 226,748 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 126,610 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in CorMedix by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,208,894 shares of the biotechnology company’s stock worth $518,000 after purchasing an additional 35,148 shares in the last quarter.
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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