Erin Mistry Purchases 1,500 Shares of CorMedix Inc. (NASDAQ:CRMD) Stock

CorMedix Inc. (NASDAQ:CRMD) EVP Erin Mistry bought 1,500 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was purchased at an average cost of $9.99 per share, for a total transaction of $14,985.00. Following the completion of the acquisition, the executive vice president now owns 52,011 shares in the company, valued at $519,589.89. This trade represents a 2.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

CorMedix Trading Down 4.4 %

NASDAQ CRMD opened at $8.38 on Friday. The firm has a market capitalization of $508.47 million, a price-to-earnings ratio of -10.35 and a beta of 1.54. The firm’s 50 day simple moving average is $10.47 and its 200 day simple moving average is $7.16. CorMedix Inc. has a 1 year low of $2.89 and a 1 year high of $13.85.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.05. The firm had revenue of $11.46 million for the quarter, compared to analyst estimates of $11.00 million. During the same quarter in the prior year, the business posted ($0.17) EPS. On average, equities research analysts forecast that CorMedix Inc. will post -0.46 earnings per share for the current year.

Institutional Trading of CorMedix

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in CorMedix by 54.3% in the third quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after buying an additional 1,625 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of CorMedix during the second quarter valued at $44,000. Price T Rowe Associates Inc. MD raised its stake in shares of CorMedix by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock valued at $63,000 after acquiring an additional 2,562 shares during the last quarter. AlphaMark Advisors LLC bought a new position in shares of CorMedix during the third quarter valued at $97,000. Finally, BNP Paribas Financial Markets raised its stake in shares of CorMedix by 130.3% during the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock valued at $97,000 after acquiring an additional 6,761 shares during the last quarter. Institutional investors and hedge funds own 34.18% of the company’s stock.

Analyst Upgrades and Downgrades

CRMD has been the topic of a number of research analyst reports. StockNews.com raised shares of CorMedix to a “sell” rating in a report on Friday, November 8th. Rodman & Renshaw began coverage on shares of CorMedix in a report on Monday, August 26th. They issued a “buy” rating and a $13.00 price target on the stock. Truist Financial raised their target price on shares of CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC raised their target price on shares of CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

About CorMedix

CorMedix Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.