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A company insider recently bought 13,561 shares of CorMedix Inc [CRMD]. Should You Buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. CorMedix Inc shares valued at $50,718 were purchased by Todisco Joseph on Mar 13 ’24. At $3.74 per share, Todisco Joseph acquired 13,561 shares. The insider’s holdings grew to 352,839 shares worth approximately $1.45 million following the completion of this transaction.

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Also, DUNTON ALAN W purchased 3,000 shares, netting a total of over 9,900 in proceeds. Following the buying of shares at $3.30 each, the insider now holds 15,250 shares.

Before that, DUNTON ALAN W had added 3,000 shares to its account. In a trade valued at $10,350, the Director bought CorMedix Inc shares for $3.45 each. Upon closing the transaction, the insider’s holdings increased to 3,000 shares, worth approximately $50347.50000000001.

As published in their initiating research note from RBC Capital Mkts on August 10, 2023, CorMedix Inc [CRMD] has been an Outperform and the price target has been revised to $6. Analysts at Needham started covering the stock with ‘”a Buy”‘ outlook in a report released in mid February. As of September 29, 2020, JMP Securities has initiated its “Mkt outperform” rating for CRMD. Earlier on September 21, 2020, Truist initiated its rating. Their recommendation was “a Buy” for CRMD stock.

Analyzing CRMD Stock Performance

During the last five days, there has been a drop of approximately -0.96%. Over the course of the year, CorMedix Inc shares have jumped approximately 9.31%. Shares of the company reached a 52-week high of $7.00 on 04/12/24 and a 52-week low of $2.89 on 02/08/24. A 50-day SMA is recorded $5.04, while a 200-day SMA reached $3.99. Nevertheless, trading volume fell to 0.31 million shares from 0.35 million shares the previous day.

Support And Resistance Levels for CorMedix Inc (CRMD)

According to the 24-hour chart, there is a support level at 4.08, which, if violated, would cause prices to drop to 4.04. In the upper region, resistance lies at 4.19. The next price resistance is at 4.25. RSI (Relative Strength Index) is 28.37 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.18, which suggests the price will decrease in the coming days. Percent R is at 93.24%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.

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