Joseph Todisco Sells 30,000 Shares of CorMedix (NASDAQ:CRMD) Stock

CorMedix Inc (NASDAQ:CRMD) CEO Joseph Todisco sold 30,000 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $12.00, for a total transaction of $360,000.00. Following the sale, the chief executive officer directly owned 509,496 shares in the company, valued at approximately $6,113,952. This trade represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

CorMedix Stock Performance

Shares of CorMedix stock opened at $12.02 on Friday. CorMedix Inc has a 12 month low of $5.60 and a 12 month high of $17.43. The company has a quick ratio of 1.73, a current ratio of 1.94 and a debt-to-equity ratio of 0.39. The stock has a market cap of $947.06 million, a PE ratio of 5.83 and a beta of 1.32. The business has a fifty day simple moving average of $10.84 and a 200-day simple moving average of $11.89.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.78. CorMedix had a return on equity of 51.77% and a net margin of 75.83%.The firm had revenue of $104.28 million during the quarter, compared to the consensus estimate of $65.63 million. During the same period in the prior year, the business earned ($0.05) EPS. The business’s revenue for the quarter was up 810.2% on a year-over-year basis. On average, sell-side analysts anticipate that CorMedix Inc will post -0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CRMD shares. Wall Street Zen lowered shares of CorMedix from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. HC Wainwright increased their price objective on CorMedix from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. JMP Securities reissued a “market outperform” rating and set a $22.00 price objective on shares of CorMedix in a research report on Tuesday, September 9th. Needham & Company LLC dropped their target price on CorMedix from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, D Boral Capital raised CorMedix from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.33.

Hedge Funds Weigh In On CorMedix

Hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. lifted its position in shares of CorMedix by 17.9% in the second quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock worth $81,000 after buying an additional 998 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of CorMedix by 22.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock valued at $81,000 after acquiring an additional 1,190 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of CorMedix by 11.9% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 13,622 shares of the company’s stock valued at $168,000 after acquiring an additional 1,451 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in CorMedix by 5.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,114 shares of the company’s stock worth $338,000 after purchasing an additional 1,478 shares during the last quarter. Finally, Palisades Investment Partners LLC boosted its position in CorMedix by 0.3% during the third quarter. Palisades Investment Partners LLC now owns 564,106 shares of the company’s stock worth $6,561,000 after purchasing an additional 1,579 shares during the period. 34.18% of the stock is owned by institutional investors and hedge funds.

CorMedix Company Profile

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.