CorMedix Inc. (NASDAQ:CRMD) EVP Elizabeth Hurlburt Sells 140,027 Shares

CorMedix Inc. (NASDAQ:CRMD) EVP Elizabeth Hurlburt sold 140,027 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $11.18, for a total value of $1,565,501.86. Following the completion of the sale, the executive vice president now owns 45,397 shares in the company, valued at $507,538.46. The trade was a 75.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

CorMedix Trading Up 1.5 %

NASDAQ:CRMD opened at $11.07 on Wednesday. The stock has a 50 day moving average of $9.63 and a two-hundred day moving average of $6.58. CorMedix Inc. has a 12 month low of $2.89 and a 12 month high of $13.85. The firm has a market cap of $671.73 million, a P/E ratio of -13.56 and a beta of 1.58.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.05) 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 analysts’ expectations of $11.00 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. On average, research analysts forecast that CorMedix Inc. will post -0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CRMD shares. Rodman & Renshaw initiated coverage on CorMedix in a research report on Monday, August 26th. They issued a “buy” rating and a $13.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $9.00 target price on shares of CorMedix in a research note on Thursday, August 15th. Needham & Company LLC raised their target price on CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded CorMedix to a “sell” rating in a research report on Friday, November 8th. Finally, Truist Financial boosted their price objective on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.20.

Hedge Funds Weigh In On CorMedix

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its holdings in CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after acquiring an additional 1,625 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of CorMedix in the second quarter valued at approximately $44,000. Tidal Investments LLC purchased a new stake in shares of CorMedix in the first quarter valued at approximately $60,000. Price T Rowe Associates Inc. MD increased its holdings in shares of CorMedix by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock valued at $63,000 after purchasing an additional 2,562 shares during the last quarter. Finally, AlphaMark Advisors LLC purchased a new position in CorMedix during the third quarter worth approximately $97,000. 34.18% of the stock is owned by hedge funds and other institutional investors.

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.