CorMedix (NASDAQ:CRMD) Trading Down 6% – Should You Sell?

CorMedix Inc (NASDAQ:CRMD) shares traded down 6% during mid-day trading on Tuesday . The stock traded as low as $9.37 and last traded at $9.2330. 820,810 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 2,339,206 shares. The stock had previously closed at $9.82.

Analysts Set New Price Targets

Several research firms recently commented on CRMD. Royal Bank Of Canada reissued an “outperform” rating and set a $22.00 target price (up from $21.00) on shares of CorMedix in a research note on Tuesday, October 21st. Wall Street Zen downgraded CorMedix from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research raised CorMedix from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CorMedix in a research report on Wednesday, October 8th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $14.00 price target on shares of CorMedix in a research report on Wednesday, November 12th. Three 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $18.33.

CorMedix Stock Down 5.1%

The company has a market capitalization of $734.31 million, a P/E ratio of 12.42 and a beta of 1.80. The company’s 50-day simple moving average is $11.03 and its 200 day simple moving average is $12.08.

CorMedix (NASDAQ:CRMD) last posted its earnings results 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. The firm had revenue of $104.28 million during the quarter, compared to analyst estimates of $65.63 million. CorMedix had a return on equity of 42.73% and a net margin of 42.11%.The company’s revenue for the quarter was up 810.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) EPS. CorMedix has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities research analysts forecast that CorMedix Inc will post -0.32 earnings per share for the current year.

Insider Buying and Selling at CorMedix

In related news, CEO Joseph Todisco sold 50,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $13.00, for a total transaction of $650,000.00. Following the completion of the sale, the chief executive officer directly owned 509,496 shares of the company’s stock, valued at $6,623,448. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alan W. Dunton sold 10,000 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $13.13, for a total value of $131,300.00. Following the completion of the transaction, the director directly owned 40,250 shares in the company, valued at approximately $528,482.50. This represents a 19.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 163,997 shares of company stock worth $2,163,617 in the last 90 days. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CorMedix

A number of institutional investors and hedge funds have recently made changes to their positions in CRMD. Vanguard Group Inc. lifted its holdings in CorMedix by 7.9% in the first quarter. Vanguard Group Inc. now owns 3,646,551 shares of the company’s stock valued at $22,463,000 after buying an additional 268,360 shares during the period. Marshall Wace LLP raised its position in CorMedix by 34.6% in the 3rd quarter. Marshall Wace LLP now owns 3,473,494 shares of the company’s stock valued at $40,397,000 after buying an additional 893,518 shares during the last quarter. Deerfield Management Company L.P. bought a new stake in CorMedix during the 3rd quarter worth about $38,656,000. Geode Capital Management LLC raised its stake in shares of CorMedix by 11.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,596,322 shares of the company’s stock worth $19,669,000 after purchasing an additional 163,403 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its position in CorMedix by 68.4% during the third quarter. Alyeska Investment Group L.P. now owns 1,262,979 shares of the company’s stock worth $14,688,000 after acquiring an additional 512,979 shares in the last quarter. Institutional investors own 34.18% of the company’s stock.

About CorMedix

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.