CorMedix Inc. (NYSEAMERICAN:CRMD) saw a large decrease in short interest in December. As of December 29th, there was short interest totalling 4,000,834 shares, a decrease of 10.2% from the December 15th total of 4,456,413 shares. Currently, 6.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,626,878 shares, the short-interest ratio is presently 2.5 days.
In other news, CEO Khoso Baluch acquired 104,166 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were acquired at an average cost of $0.48 per share, with a total value of $49,999.68. Following the completion of the acquisition, the chief executive officer now owns 225,373 shares of the company’s stock, valued at $108,179.04. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven W. Lefkowitz acquired 135,416 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was purchased at an average cost of $0.48 per share, for a total transaction of $64,999.68. The disclosure for this purchase can be found here. Insiders have purchased a total of 312,498 shares of company stock worth $149,999 over the last ninety days.
Hedge funds have recently modified their holdings of the business. Elliott Management Corp boosted its position in CorMedix by 177.8% during the second quarter. Elliott Management Corp now owns 4,166,868 shares of the biotechnology company’s stock worth $1,785,000 after purchasing an additional 2,666,668 shares in the last quarter. Susquehanna International Group LLP boosted its position in CorMedix by 11,785.4% during the second quarter. Susquehanna International Group LLP now owns 2,067,973 shares of the biotechnology company’s stock worth $886,000 after purchasing an additional 2,085,670 shares in the last quarter. Sabby Management LLC purchased a new position in CorMedix during the second quarter worth approximately $1,818,000. Finally, Vanguard Group Inc. boosted its position in CorMedix by 3.0% during the second quarter. Vanguard Group Inc. now owns 1,208,894 shares of the biotechnology company’s stock worth $518,000 after purchasing an additional 35,148 shares in the last quarter.
CorMedix (CRMD) opened at $0.53 on Thursday. The stock has a market capitalization of $36.99, a P/E ratio of -0.87 and a beta of 0.52. CorMedix has a 1 year low of $0.32 and a 1 year high of $2.48.
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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