CorMedix Inc (NASDAQ: CRMD)’s stock price has plunge by 8.74relation to previous closing price of 8.12. Nevertheless, the company has seen a 0.68% surge in its stock price over the last five trading sessions. globenewswire.com reported 2024-12-19 that BERKELEY HEIGHTS, N.J., Dec. 19, 2024 (GLOBE NEWSWIRE) — CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions, today announced it will be added to the Nasdaq Biotechnology Index (Nasdaq: NBI) (the “NBI”). CorMedix’s addition to the NBI will become effective prior to the market open on Monday, December 23, 2024.
Is It Worth Investing in CorMedix Inc (NASDAQ: CRMD) Right Now?
The 36-month beta value for CRMD is at 1.56. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 3 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for CRMD is 59.77M, and currently, shorts hold a 11.53% of that float. The average trading volume for CRMD on December 19, 2024 was 1.17M shares.
CRMD’s Market Performance
The stock of CorMedix Inc (CRMD) has seen a 0.68% increase in the past week, with a -20.23% drop in the past month, and a 19.65% gain in the past quarter. The volatility ratio for the week is 6.81%, and the volatility levels for the past 30 days are at 5.59% for CRMD. The simple moving average for the last 20 days is -5.81% for CRMD stock, with a simple moving average of 34.89% for the last 200 days.
Analysts’ Opinion of CRMD
Many brokerage firms have already submitted their reports for CRMD stocks, with Rodman & Renshaw repeating the rating for CRMD by listing it as a “Buy.” The predicted price for CRMD in the upcoming period, according to Rodman & Renshaw is $13 based on the research report published on August 26, 2024 of the current year 2024.
RBC Capital Mkts, on the other hand, stated in their research note that they expect to see CRMD reach a price target of $6. The rating they have provided for CRMD stocks is “Outperform” according to the report published on August 10th, 2023.
Needham gave a rating of “Buy” to CRMD, setting the target price at $31 in the report published on February 17th of the previous year.
CRMD Trading at -14.87% from the 50-Day Moving Average
After a stumble in the market that brought CRMD to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -36.25% of loss for the given period.
Volatility was left at 5.59%, however, over the last 30 days, the volatility rate increased by 6.81%, as shares sank -18.16% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.48% lower at present.
During the last 5 trading sessions, CRMD rose by +0.23%, which changed the moving average for the period of 200-days by +144.85% in comparison to the 20-day moving average, which settled at $9.37. In addition, CorMedix Inc saw 134.84% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CRMD starting from Mistry Erin, who purchase 1,500 shares at the price of $9.99 back on Oct 31 ’24. After this action, Mistry Erin now owns 52,011 shares of CorMedix Inc, valued at $14,985 using the latest closing price.
Hurlburt Elizabeth, the EVP of CorMedix Inc, sale 140,027 shares at $11.18 during a trade that took place back on Nov 14 ’24, which means that Hurlburt Elizabeth is holding 45,397 shares at $1,565,670 based on the most recent closing price.
Stock Fundamentals for CRMD
Current profitability levels for the company are sitting at:
- -4.06 for the present operating margin
- 0.84 for the gross margin
The net margin for CorMedix Inc stands at -224.42. The total capital return value is set at -0.86. Equity return is now at value -65.04, with -54.61 for asset returns.
Currently, EBITDA for the company is -48.89 million with net debt to EBITDA at 0.74. When we switch over and look at the enterprise to sales, we see a ratio of 39.78. The receivables turnover for the company is 0.72for trailing twelve months and the total asset turnover is 0.16. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.96.
Conclusion
In conclusion, CorMedix Inc (CRMD) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
