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

CorMedix Inc (NASDAQ:CRMD) CEO Joseph Todisco sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 509,496 shares of the company’s stock, valued at $6,113,952. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

CorMedix Stock Performance

Shares of CRMD traded up $0.10 during trading hours on Friday, hitting $12.02. The company’s stock had a trading volume of 3,684,966 shares, compared to its average volume of 2,654,860. The business has a 50 day simple moving average of $10.84 and a two-hundred day simple moving average of $11.90. CorMedix Inc has a 52-week low of $5.60 and a 52-week high of $17.43. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.94 and a quick ratio of 1.73. The company has a market cap of $947.06 million, a price-to-earnings ratio of 5.83 and a beta of 1.32.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of CorMedix in a research note on Thursday. D Boral Capital upgraded shares of CorMedix from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of CorMedix in a report on Wednesday, October 8th. Zacks Research raised shares of CorMedix from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $22.00 target price (up previously from $21.00) on shares of CorMedix in a research report on Tuesday, October 21st. 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 stock. Based on data from MarketBeat.com, CorMedix presently has an average rating of “Buy” and an average target price of $18.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CRMD. Comerica Bank raised its stake in CorMedix by 454.6% during the 3rd quarter. Comerica Bank now owns 2,690 shares of the company’s stock valued at $31,000 after buying an additional 2,205 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of CorMedix in the second quarter worth $42,000. Caitong International Asset Management Co. Ltd increased its position in CorMedix by 666.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 4,385 shares of the company’s stock valued at $51,000 after acquiring an additional 3,813 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in CorMedix during the third quarter valued at $54,000. Finally, USA Financial Formulas bought a new position in CorMedix in the second quarter valued at about $55,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.

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.