CorMedix (NASDAQ:CRMD) Director Alan Dunton Sells 20,000 Shares

CorMedix Inc (NASDAQ:CRMD) Director Alan Dunton sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $13.00, for a total value of $260,000.00. Following the transaction, the director owned 40,250 shares in the company, valued at approximately $523,250. This trade represents a 33.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

CorMedix Stock Performance

Shares of CRMD stock opened at $12.16 on Friday. The stock has a market cap of $958.09 million, a PE ratio of 5.90 and a beta of 1.36. The stock has a 50-day moving average of $11.09 and a 200-day moving average of $11.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.94 and a quick ratio of 1.73. CorMedix Inc has a one year low of $5.60 and a one year high of $17.43.

CorMedix (NASDAQ:CRMD) last released 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 75.83% and a return on equity of 51.77%. The business had revenue of $104.28 million for the quarter, compared to analyst estimates of $65.63 million. During the same quarter last year, the firm earned ($0.05) EPS. CorMedix’s quarterly revenue was up 810.2% compared to the same quarter last year. As a group, sell-side analysts expect that CorMedix Inc will post -0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Zacks Research upgraded shares of CorMedix from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. D Boral Capital upgraded shares of CorMedix from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of CorMedix in a research note on Thursday, December 18th. Royal Bank Of Canada reiterated an “outperform” rating and set a $22.00 target price (up previously from $21.00) on shares of CorMedix in a report on Tuesday, October 21st. Finally, HC Wainwright lifted their price target on CorMedix from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $18.33.

Institutional Investors Weigh In On CorMedix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank grew its holdings in shares of CorMedix by 454.6% in the 3rd quarter. Comerica Bank now owns 2,690 shares of the company’s stock valued at $31,000 after acquiring an additional 2,205 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in CorMedix in the second quarter valued at approximately $42,000. Caitong International Asset Management Co. Ltd increased its position in shares of CorMedix by 666.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company’s stock worth $51,000 after purchasing an additional 3,813 shares during the last quarter. USA Financial Formulas acquired a new position in shares of CorMedix during the 2nd quarter worth approximately $55,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of CorMedix during the 3rd quarter worth approximately $54,000. 34.18% of the stock is owned by institutional investors.

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.