CorMedix (CRMD) Stock: Climbing On Insider Buys

CorMedix CRMD Stock News

CorMedix Inc. (NYSEAMERICAN: CRMD) didn’t have the best of trading sessions in the market yesterday, falling more than 7% by the closing bell. However, the stock is off to a great start today, already experiencing double-digit gains in the pre-market. While there have been no press releases offered, there’s a good reason for the gains. It seems as though investors are excited about insider activity that was recently disclosed. Today, we’ll talk about:

  • The insider purchases;
  • what we’re seeing from CRMD stock as a result; and
  • what we’ll be watching for ahead.

CRMD Heads Up On Insider Activity

As mentioned above, CorMedix is having a great start to the trading session this morning after investors caught wind of freshly disclosed insider buys. Here are the buys that were recently disclosed:

  • Myron Kaplan – Myron Kaplan, a Director at CRMD, purchased 50,000 shares last Friday at an average price of $1.2959 per share. This brings Kaplan’s holding to a total of 371,166 shares.
  • Khoso Baluch – The CEO of the company purchased 3,500 shares on the 26th of November at $1.28 each and another 21,500 shares yesterday at an average price of $1.21 per share. This brings Baluch’s holdings to a total of 250,373 shares.
  • Robert Cook – Finally, Robert Cook, CFO at the company, purchased 25,000 shares at a price of $1.1685 per share. This brings his holdings to 127,083 shares.

Why This Is Important

Investors like to see insiders buying up shares. After all, insiders know more about the company’s that we invest in than anyone else because they center their lives around these companies. At the end of the day, when these insiders purchase shares, it shows that they have confidence that the values of these shares will grow. Moreover, when we see such big holdings among insiders, like what we see with CRMD, it’s a sign that management interests are aligned well with those of investors. So, investors tend to follow insider moves.

What We’re Seeing From The Stock 

One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of CorMedix, the news proved to be overwhelmingly positive. After all, insiders are snapping up shares left and right, providing a bode of confidence in the company’s growth and further aligning interests between management and investors. So, it comes as no surprise to see that excited investors are pushing the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (7:23), CRMD is trading at $1.32 per share after a gain of $0.12 per share or 10.00% thus far today.

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What We’ll Be Watching For Ahead

Moving forward, the iWatch Markets team will continue to keep a close eye on CRMD. In particular, we’re interested in following the continued buys being made by insiders. We’re also interested in keeping a close eye on the development of Neutrolin. The Phase 3 clinical candidate has shown incredible results in the past and has a strong chance to make it to commercialization relatively soon. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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