CorMedix (NASDAQ:CRMD) Shares Down 6% – Here’s What Happened

CorMedix Inc (NASDAQ:CRMD)’s share price dropped 6% during mid-day trading on Tuesday . The stock traded as low as $9.37 and last traded at $9.2330. Approximately 820,810 shares were traded during trading, a decline of 65% from the average daily volume of 2,339,206 shares. The stock had previously closed at $9.82.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRMD. Weiss Ratings restated a “hold (c)” rating on shares of CorMedix in a report on Wednesday, October 8th. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of CorMedix in a research report on Wednesday, November 12th. Needham & Company LLC decreased their target price on CorMedix from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. JMP Securities reiterated a “market outperform” rating and issued a $22.00 target price on shares of CorMedix in a research report on Tuesday, September 9th. Finally, Zacks Research upgraded shares of CorMedix from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $18.33.

CorMedix Trading Up 2.7%

The company has a market capitalization of $760.31 million, a P/E ratio of 12.87 and a beta of 1.80. The business’s fifty day moving average price is $10.95 and its 200 day moving average price is $12.05.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.78. CorMedix had a net margin of 42.11% and a return on equity of 42.73%. The company had revenue of $104.28 million during the quarter, compared to analyst estimates of $65.63 million. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s revenue was up 810.2% on a year-over-year basis. CorMedix has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts anticipate that CorMedix Inc will post -0.32 EPS for the current year.

Insiders Place Their Bets

In related news, insider Kaufman Beth Zelnick sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $13.41, for a total transaction of $670,500.00. Following the completion of the sale, the insider directly owned 180,418 shares of the company’s stock, valued at approximately $2,419,405.38. This represents a 21.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan W. Dunton sold 10,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $13.13, for a total value of $131,300.00. Following the completion of the sale, the director owned 40,250 shares in the company, valued at approximately $528,482.50. This trade represents a 19.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 163,997 shares of company stock valued at $2,163,617 over the last quarter. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CorMedix

Several hedge funds have recently added to or reduced their stakes in the business. Swedbank AB bought a new position in shares of CorMedix in the 1st quarter valued at $1,540,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of CorMedix during the second quarter valued at about $270,000. Hussman Strategic Advisors Inc. bought a new stake in shares of CorMedix during the second quarter worth about $776,000. Swiss National Bank bought a new position in CorMedix in the 1st quarter valued at approximately $724,000. Finally, Trexquant Investment LP boosted its position in CorMedix by 588.9% during the 1st quarter. Trexquant Investment LP now owns 135,487 shares of the company’s stock worth $835,000 after buying an additional 115,819 shares during the period. Institutional investors and hedge funds own 34.18% of the company’s stock.

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.