CorMedix (CRMD) Trading -7.1% Higher

CorMedix Inc. (NYSEAMERICAN:CRMD)’s share price traded up 7.1% during mid-day trading on Monday . The stock traded as high as $0.28 and last traded at $0.26. 242,954 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,569,087 shares. The stock had previously closed at $0.28.

Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of CorMedix from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. HC Wainwright set a $2.00 price target on shares of CorMedix and gave the stock a “buy” rating in a report on Wednesday, May 23rd.

Get CorMedix alerts:

CorMedix (NYSEAMERICAN:CRMD) last announced its quarterly earnings data on Tuesday, May 15th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). The company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.12 million. CorMedix had a negative net margin of 16,300.49% and a negative return on equity of 318.95%.

An institutional investor recently raised its position in CorMedix stock. Virtu Financial LLC increased its stake in shares of CorMedix Inc. (NYSEAMERICAN:CRMD) by 126.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,748 shares of the biotechnology company’s stock after buying an additional 126,610 shares during the quarter. Virtu Financial LLC owned about 0.34% of CorMedix worth $114,000 as of its most recent SEC filing.

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 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.

Featured Story: What does relative strength index mean?