Steven Lefkowitz Sells 40,000 Shares of CorMedix (NASDAQ:CRMD) Stock

CorMedix Inc (NASDAQ:CRMD) Director Steven Lefkowitz sold 40,000 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $11.88, for a total value of $475,200.00. Following the completion of the sale, the director directly owned 80,498 shares of the company’s stock, valued at $956,316.24. The trade was a 33.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

CorMedix Stock Performance

Shares of CorMedix stock traded down $0.15 during trading on Wednesday, reaching $11.47. The company’s stock had a trading volume of 3,581,674 shares, compared to its average volume of 3,133,913. The company has a 50-day moving average price of $10.78 and a two-hundred day moving average price of $11.93. CorMedix Inc has a fifty-two week low of $5.60 and a fifty-two week high of $17.43. The firm has a market cap of $903.72 million, a PE ratio of 5.57 and a beta of 1.32. The company has a current ratio of 1.94, a quick ratio of 1.73 and a debt-to-equity ratio of 0.39.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.78. The firm had revenue of $104.28 million during the quarter, compared to analysts’ expectations of $65.63 million. CorMedix had a net margin of 75.83% and a return on equity of 51.77%. CorMedix’s quarterly revenue was up 810.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. On average, analysts forecast that CorMedix Inc will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CRMD. Vanguard Group Inc. lifted its holdings in CorMedix by 7.9% in the first quarter. Vanguard Group Inc. now owns 3,646,551 shares of the company’s stock valued at $22,463,000 after acquiring an additional 268,360 shares during the period. Marshall Wace LLP increased its holdings in shares of CorMedix by 34.6% in the 3rd quarter. Marshall Wace LLP now owns 3,473,494 shares of the company’s stock valued at $40,397,000 after purchasing an additional 893,518 shares in the last quarter. Deerfield Management Company L.P. purchased a new position in shares of CorMedix in the 3rd quarter valued at about $38,656,000. Geode Capital Management LLC lifted its stake in shares of CorMedix by 11.4% in the second quarter. Geode Capital Management LLC now owns 1,596,322 shares of the company’s stock valued at $19,669,000 after purchasing an additional 163,403 shares during the period. Finally, Alyeska Investment Group L.P. boosted its holdings in CorMedix by 68.4% during the third quarter. Alyeska Investment Group L.P. now owns 1,262,979 shares of the company’s stock worth $14,688,000 after buying an additional 512,979 shares in the last quarter. Institutional investors and hedge funds own 34.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research upgraded CorMedix from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $22.00 target price (up from $21.00) on shares of CorMedix in a research note on Tuesday, October 21st. D. Boral Capital restated a “buy” rating and set a $14.00 price target on shares of CorMedix in a research note on Wednesday, November 12th. Wall Street Zen downgraded CorMedix from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, D Boral Capital raised shares of CorMedix from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, CorMedix presently has an average rating of “Buy” and a consensus target price of $18.33.

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. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.