CorMedix (NASDAQ:CRMD) Trading Down 3.7% – Should You Sell?

Shares of CorMedix Inc. (NASDAQ:CRMD) dropped 3.7% during trading on Wednesday . The company traded as low as $12.13 and last traded at $11.71. Approximately 64,032 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,444,217 shares. The stock had previously closed at $12.16.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CRMD shares. D. Boral Capital reissued a “buy” rating and issued a $15.00 price target on shares of CorMedix in a report on Wednesday, January 22nd. StockNews.com upgraded CorMedix to a “sell” rating in a research report on Friday, November 8th. Royal Bank of Canada upped their price objective on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Needham & Company LLC lifted their target price on shares of CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Truist Financial increased their target price on shares of CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CorMedix has a consensus rating of “Moderate Buy” and a consensus target price of $15.67.

CorMedix Trading Down 2.8 %

The stock’s 50 day simple moving average is $9.93 and its two-hundred day simple moving average is $8.41.

CorMedix (NASDAQ:CRMD) last released its 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 analysts’ expectations of $11.00 million. During the same period in the prior year, the company posted ($0.17) earnings per share. On average, equities research analysts expect that CorMedix Inc. will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling at CorMedix

In other news, EVP Elizabeth Hurlburt sold 140,027 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $11.18, for a total value of $1,565,501.86. Following the completion of the transaction, the executive vice president now owns 45,397 shares in the company, valued at $507,538.46. The trade was a 75.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On CorMedix

Several hedge funds and other institutional investors have recently bought and sold shares of CRMD. FMR LLC grew its stake in shares of CorMedix by 54.3% in the third 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 period. AlphaMark Advisors LLC grew its position in CorMedix by 16.7% in the 4th quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company’s stock worth $113,000 after purchasing an additional 2,000 shares during the period. The Manufacturers Life Insurance Company raised its stake in CorMedix by 13.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock valued at $100,000 after buying an additional 2,700 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in CorMedix by 10.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 52,184 shares of the company’s stock valued at $422,000 after buying an additional 4,935 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of CorMedix by 8.6% during the 4th quarter. Rhumbline Advisers now owns 75,747 shares of the company’s stock valued at $614,000 after buying an additional 6,028 shares during the period. Institutional investors own 34.18% of the company’s stock.

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. 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.