Cormedix (NYSEAMERICAN:CRMD) was the target of a large decrease in short interest in the month of March. As of March 29th, there was short interest totalling 5,880,120 shares, a decrease of 1.2% from the March 15th total of 5,951,427 shares. Based on an average trading volume of 2,465,816 shares, the short-interest ratio is currently 2.4 days. Approximately 7.7% of the company’s shares are short sold.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC raised its stake in shares of Cormedix by 126.4% during the fourth quarter. Virtu Financial LLC now owns 226,748 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 126,610 shares during the period. Spinnaker Capital LLC purchased a new stake in shares of Cormedix during the fourth quarter valued at approximately $202,000. Finally, Vanguard Group Inc. raised its stake in shares of Cormedix by 3.0% during 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.
Several research analysts have recently weighed in on the stock. HC Wainwright set a $4.00 price objective on shares of Cormedix and gave the stock a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research lowered shares of Cormedix from a “buy” rating to a “hold” rating in a report on Thursday, March 29th.
NYSEAMERICAN CRMD opened at $0.21 on Wednesday. Cormedix has a one year low of $0.17 and a one year high of $1.26.
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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 other markets. 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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