CorMedix (CRMD) Stock Price Up 8.5%
Shares of CorMedix Inc. (NYSEAMERICAN:CRMD) rose 8.5% on Friday . The company traded as high as $1.69 and last traded at $1.79. Approximately 78,877 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 2,757,359 shares. The stock had previously closed at $1.65.
CRMD has been the subject of a number of research reports. HC Wainwright set a $3.00 target price on CorMedix and gave the company a “buy” rating in a research note on Wednesday, August 15th. Zacks Investment Research lowered CorMedix from a “buy” rating to a “hold” rating in a research note on Monday, August 20th. Finally, Roth Capital started coverage on CorMedix in a report on Thursday. They issued a “buy” rating and a $6.00 price target on the stock.
In other news, VP Jr. John L. Armstrong purchased 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The shares were acquired at an average price of $1.45 per share, for a total transaction of $362,500.00. Following the completion of the acquisition, the vice president now directly owns 288,861 shares in the company, valued at $418,848.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Myron Kaplan purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The stock was purchased at an average price of $1.30 per share, for a total transaction of $65,000.00. Following the acquisition, the director now owns 371,166 shares of the company’s stock, valued at $482,515.80. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 328,500 shares of company stock worth $461,230.
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CorMedix Company Profile (NYSEAMERICAN:CRMD)
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 primary focus is on the development of its lead product candidate, Neutrolin, an 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 dialysis, critical/intensive care, and oncology.
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