CorMedix Inc. (CRMD) Sees Significant Increase in Short Interest
CorMedix Inc. (NYSEAMERICAN:CRMD) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 4,692,803 shares, a growth of 8.3% from the January 12th total of 4,332,544 shares. Currently, 7.6% of the company’s stock are sold short. Based on an average trading volume of 651,504 shares, the days-to-cover ratio is currently 7.2 days.
CorMedix (CRMD) opened at $0.51 on Wednesday. CorMedix has a 1-year low of $0.32 and a 1-year high of $2.40. The company has a market cap of $28.59, a price-to-earnings ratio of -0.84 and a beta of 0.18.
In other CorMedix news, Director Steven W. Lefkowitz bought 135,416 shares of CorMedix stock in a transaction that occurred on Tuesday, December 12th. The shares were acquired at an average price of $0.48 per share, for a total transaction of $64,999.68. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Khoso Baluch bought 104,166 shares of CorMedix stock in a transaction that occurred on Tuesday, December 12th. The shares were acquired at an average price of $0.48 per share, for a total transaction of $49,999.68. Following the acquisition, the chief executive officer now directly owns 225,373 shares in the company, valued at approximately $108,179.04. The disclosure for this purchase can be found here. Insiders have purchased a total of 312,498 shares of company stock worth $149,999 in the last 90 days.
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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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