Short Interest in CorMedix Inc. (CRMD) Grows By 21.6%

CorMedix Inc. (NYSEAMERICAN:CRMD) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 3,303,567 shares, a growth of 21.6% from the October 31st total of 2,715,967 shares. Approximately 6.0% of the company’s stock are short sold. Based on an average trading volume of 780,024 shares, the days-to-cover ratio is currently 4.2 days.

CRMD has been the subject of several research reports. Zacks Investment Research raised shares of CorMedix from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a research note on Monday, August 14th. Rodman & Renshaw decreased their price target on shares of CorMedix from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 10th. Finally, HC Wainwright set a $3.00 price target on shares of CorMedix and gave the stock a “buy” rating in a research note on Thursday, August 10th.

Shares of CorMedix (CRMD) traded up $0.01 on Monday, hitting $0.53. 504,248 shares of the stock traded hands, compared to its average volume of 641,538. CorMedix has a one year low of $0.32 and a one year high of $2.48.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 35,148 shares in the last quarter. Susquehanna International Group LLP grew its stake in shares of 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 buying an additional 2,085,670 shares in the last quarter. Elliott Management Corp grew its stake in shares of 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 buying an additional 2,666,668 shares in the last quarter. Finally, Sabby Management LLC bought a new position in shares of CorMedix in the second quarter valued at $1,818,000.

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CorMedix Company 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.

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