Sabby Management LLC bought a new stake in CorMedix Inc. (NYSEMKT:CRMD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,243,914 shares of the biotechnology company’s stock, valued at approximately $1,818,000. Sabby Management LLC owned 7.17% of CorMedix as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CRMD. Vanguard Group Inc. raised its position in CorMedix by 3.0% in the second quarter. Vanguard Group Inc. now owns 1,208,894 shares of the biotechnology company’s stock valued at $518,000 after purchasing an additional 35,148 shares during the period. Elliott Management Corp raised its position in CorMedix by 177.8% in the second quarter. Elliott Management Corp now owns 4,166,868 shares of the biotechnology company’s stock valued at $1,785,000 after purchasing an additional 2,666,668 shares during the period. Finally, Susquehanna International Group LLP raised its position in CorMedix by 11,785.4% in the second quarter. Susquehanna International Group LLP now owns 2,067,973 shares of the biotechnology company’s stock valued at $886,000 after purchasing an additional 2,085,670 shares during the period.

A number of research firms have recently weighed in on CRMD. Zacks Investment Research raised CorMedix from a “hold” rating to a “buy” rating and set a $0.50 price objective on the stock in a research report on Tuesday, July 11th. HC Wainwright set a $3.00 price objective on CorMedix and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, Rodman & Renshaw cut their price objective on CorMedix from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th.

CorMedix Inc. (CRMD) traded down 1.9124% during trading on Tuesday, reaching $0.5847. 771,642 shares of the company’s stock traded hands. The stock’s market capitalization is $34.63 million. CorMedix Inc. has a 1-year low of $0.32 and a 1-year high of $2.60. The stock has a 50-day moving average price of $0.51 and a 200 day moving average price of $0.57.

In related news, Director Mehmood Khan bought 400,000 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $0.39 per share, with a total value of $156,000.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at $19,500. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Myron Kaplan bought 80,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $0.40 per share, with a total value of $32,000.00. Following the transaction, the director now directly owns 180,000 shares in the company, valued at approximately $72,000. The disclosure for this purchase can be found here. Insiders bought a total of 566,207 shares of company stock valued at $220,707 in the last three months.

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CorMedix Profile

CorMedix Inc is a commercial pharmaceutical and medical device company. The Company in-licenses, develops and commercializes prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases. The Company has in-licensed the rights to develop and commercialize its product candidate, CRMD003 (Neutrolin), which addresses market opportunities in the instances in which a central venous catheter is used, such as hemodialysis, intensive care units, oncology, and patients receiving total parenteral nutrition, intravenous (IV) hydration, and/or IV medications.

Institutional Ownership by Quarter for CorMedix (NYSEMKT:CRMD)

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