CorMedix Inc. (CRMD) Sees Large Drop in Short Interest

CorMedix Inc. (NYSEAMERICAN:CRMD) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 11,503,123 shares, a drop of 11.5% from the October 15th total of 13,002,017 shares. Based on an average trading volume of 3,832,831 shares, the short-interest ratio is presently 3.0 days. Currently, 12.4% of the shares of the company are short sold.

Several brokerages have recently commented on CRMD. Zacks Investment Research raised shares of CorMedix from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. HC Wainwright set a $3.00 target price on shares of CorMedix and gave the stock a “buy” rating in a report on Monday, October 15th.

An institutional investor recently bought a new position in CorMedix stock. EAM Investors LLC bought a new position in shares of CorMedix Inc. (NYSEAMERICAN:CRMD) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 723,693 shares of the biotechnology company’s stock, valued at approximately $701,000. EAM Investors LLC owned 0.72% of CorMedix at the end of the most recent quarter.

Shares of CRMD opened at $1.25 on Friday. CorMedix has a 12 month low of $0.17 and a 12 month high of $2.40.

CorMedix (NYSEAMERICAN:CRMD) last announced its earnings results on Tuesday, August 14th. The biotechnology company reported ($0.10) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.10 million.

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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.

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