CorMedix (CRMD) Shares Gap Up to $0.52

Shares of CorMedix Inc. (NYSEAMERICAN:CRMD) gapped up prior to trading on Tuesday . The stock had previously closed at $0.59, but opened at $0.52. CorMedix shares last traded at $0.51, with a volume of 350002 shares trading hands.

The company has a market cap of $28.59, a price-to-earnings ratio of -0.92 and a beta of 0.18.

In related news, CEO Khoso Baluch acquired 104,166 shares of CorMedix stock in a transaction that occurred on Tuesday, December 12th. The stock was purchased at an average price of $0.48 per share, for a total transaction of $49,999.68. Following the completion of the purchase, the chief executive officer now directly owns 225,373 shares of the company’s stock, valued at $108,179.04. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven W. Lefkowitz acquired 135,416 shares of CorMedix stock in a transaction that occurred on Tuesday, December 12th. The stock was bought at an average price of $0.48 per share, with a total value of $64,999.68. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 312,498 shares of company stock worth $149,999.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised 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 acquiring an additional 35,148 shares during the last quarter. Spinnaker Capital LLC acquired a new position in CorMedix during the fourth quarter worth about $202,000. Finally, Virtu Financial LLC raised its position in CorMedix by 126.4% during the fourth quarter. Virtu Financial LLC now owns 226,748 shares of the biotechnology company’s stock worth $114,000 after acquiring an additional 126,610 shares during the last quarter.

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About CorMedix

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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