CorMedix Inc. (NASDAQ:CRMD - Get Free Report) EVP Erin Mistry bought 1,500 shares of the business's stock in a transaction on Thursday, October 31st. The stock was acquired at an average cost of $9.99 per share, for a total transaction of $14,985.00. Following the acquisition, the executive vice president now directly owns 52,011 shares of the company's stock, valued at $519,589.89. The trade was a 2.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
CorMedix Stock Performance
NASDAQ:CRMD opened at $8.38 on Friday. CorMedix Inc. has a 1 year low of $2.89 and a 1 year high of $13.85. The business has a fifty day moving average of $10.48 and a 200-day moving average of $7.12. The stock has a market cap of $508.50 million, a price-to-earnings ratio of -10.35 and a beta of 1.54.
CorMedix (NASDAQ:CRMD - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.05. The company had revenue of $11.46 million during the quarter, compared to the consensus estimate of $11.00 million. During the same quarter in the prior year, the company earned ($0.17) EPS. On average, equities research analysts predict that CorMedix Inc. will post -0.46 EPS for the current year.
Analyst Ratings Changes
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Several analysts recently issued reports on CRMD shares. Needham & Company LLC raised their price target on CorMedix from $10.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Rodman & Renshaw assumed coverage on shares of CorMedix in a report on Monday, August 26th. They set a "buy" rating and a $13.00 price target for the company. StockNews.com raised shares of CorMedix to a "sell" rating in a report on Friday, November 8th. Finally, Truist Financial boosted their target price on shares of CorMedix from $12.00 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $15.20.
Get Our Latest Report on CRMD
Institutional Investors Weigh In On CorMedix
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in CorMedix by 21.2% during the 1st 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in CorMedix by 19.3% during the second quarter. Bank of New York Mellon Corp now owns 158,901 shares of the company's stock worth $688,000 after acquiring an additional 25,677 shares during the period. Principal Financial Group Inc. bought a new stake in CorMedix in the second quarter worth about $44,000. Commonwealth Equity Services LLC lifted its holdings in CorMedix by 150.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 94,752 shares of the company's stock valued at $410,000 after acquiring an additional 56,963 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of CorMedix by 18.0% during the 2nd quarter. Rhumbline Advisers now owns 74,239 shares of the company's stock valued at $321,000 after purchasing an additional 11,339 shares in the last quarter. Institutional investors own 34.18% of the company's stock.
CorMedix Company Profile
(
Get Free Report)
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.
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