Insider Buying: CorMedix Inc. (NASDAQ:CRMD) CEO Purchases $37,100.00 in Stock

CorMedix Inc. (NASDAQ:CRMD) CEO Joseph Todisco bought 10,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was acquired at an average cost of $3.71 per share, for a total transaction of $37,100.00. Following the acquisition, the chief executive officer now directly owns 219,726 shares of the company’s stock, valued at $815,183.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CorMedix Trading Down 1.3 %

CRMD opened at $3.70 on Monday. The business’s 50 day moving average is $4.04 and its 200-day moving average is $4.41. The stock has a market cap of $202.78 million, a PE ratio of -4.30 and a beta of 1.85. CorMedix Inc. has a twelve month low of $2.71 and a twelve month high of $6.09.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). CorMedix had a negative net margin of 45,003.03% and a negative return on equity of 68.87%. As a group, analysts forecast that CorMedix Inc. will post -0.91 EPS for the current year.

Institutional Investors Weigh In On CorMedix

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in CorMedix by 0.4% during the 1st quarter. BlackRock Inc. now owns 643,155 shares of the company’s stock valued at $2,663,000 after purchasing an additional 2,337 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in CorMedix by 23.8% during the first quarter. AdvisorNet Financial Inc now owns 13,247 shares of the company’s stock valued at $55,000 after buying an additional 2,550 shares in the last quarter. Two Sigma Advisers LP boosted its stake in CorMedix by 6.8% during the first quarter. Two Sigma Advisers LP now owns 48,600 shares of the company’s stock valued at $201,000 after buying an additional 3,100 shares in the last quarter. ETF Managers Group LLC boosted its stake in CorMedix by 33.2% during the first quarter. ETF Managers Group LLC now owns 13,706 shares of the company’s stock valued at $57,000 after buying an additional 3,414 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in CorMedix by 4.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 98,690 shares of the company’s stock valued at $541,000 after buying an additional 4,401 shares in the last quarter. 35.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CRMD. Needham & Company LLC cut their target price on shares of CorMedix from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, August 8th. Royal Bank of Canada started coverage on CorMedix in a research note on Thursday, August 10th. They issued an “outperform” rating and a $6.00 target price on the stock. Finally, JMP Securities raised their target price on CorMedix from $16.00 to $19.00 in a research note on Friday, May 19th.

CorMedix Company Profile

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 and internationally. Its lead product candidate is DefenCath and Neutrolin, a novel anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as hemodialysis, total parenteral nutrition, and oncology.