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

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

CorMedix Trading Up 5.6 %

CorMedix stock opened at $10.91 on Tuesday. CorMedix Inc. has a 12 month low of $2.89 and a 12 month high of $13.85. The company has a market capitalization of $662.02 million, a price-to-earnings ratio of -13.47 and a beta of 1.58. The business’s fifty day simple moving average is $9.52 and its two-hundred day simple moving average is $6.54.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.05) EPS for the quarter, topping 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 firm earned ($0.17) earnings per share. On average, equities research analysts predict that CorMedix Inc. will post -0.46 EPS for the current year.

Institutional Trading of CorMedix

Hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in shares of CorMedix by 54.3% during the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after acquiring an additional 1,625 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of CorMedix during the second quarter valued at about $44,000. Tidal Investments LLC purchased a new stake in shares of CorMedix in the first quarter worth about $60,000. Price T Rowe Associates Inc. MD boosted its position in shares of 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 acquiring an additional 2,562 shares during the last quarter. Finally, AlphaMark Advisors LLC purchased a new position in shares of CorMedix in the third quarter valued at $97,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.

Analyst Upgrades and Downgrades

CRMD has been the topic of a number of research analyst reports. Needham & Company LLC increased their price target on shares of CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and set a $9.00 price target on shares of CorMedix in a research note on Thursday, August 15th. StockNews.com upgraded shares of CorMedix to a “sell” rating in a research report on Friday, November 8th. Rodman & Renshaw assumed coverage on CorMedix in a report on Monday, August 26th. They set a “buy” rating and a $13.00 target price for the company. 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 issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.