Cormedix (CRMD) Sees Significant Increase in Short Interest

Cormedix (NYSEAMERICAN:CRMD) was the target of a significant growth in short interest in the month of April. As of April 13th, there was short interest totalling 6,619,276 shares, a growth of 12.6% from the March 30th total of 5,880,120 shares. Approximately 8.6% of the shares of the company are sold short. Based on an average daily volume of 1,850,749 shares, the short-interest ratio is currently 3.6 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRMD. Spinnaker Capital LLC bought a new position in shares of Cormedix in the fourth quarter worth about $202,000. Virtu Financial LLC boosted its stake in shares of Cormedix by 126.4% in 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 period. Finally, Vanguard Group Inc. boosted 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 worth $518,000 after acquiring an additional 35,148 shares during the period.

NYSEAMERICAN CRMD opened at $0.21 on Thursday. Cormedix has a twelve month low of $0.17 and a twelve month high of $1.12.

A number of equities analysts have recently weighed in on CRMD shares. Zacks Investment Research raised Cormedix from a “hold” rating to a “buy” rating and set a $0.25 price objective for the company in a research note on Wednesday, March 21st. HC Wainwright set a $4.00 price objective on Cormedix and gave the stock a “buy” rating in a research note on Monday, April 2nd.

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About Cormedix

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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