Private Advisor Group LLC increased its holdings in shares of CorMedix Inc (NASDAQ:CRMD – Free Report) by 33.3% in the first quarter, Holdings Channel.com reports. The fund owned 504,668 shares of the company’s stock after buying an additional 126,131 shares during the quarter. Private Advisor Group LLC’s holdings in CorMedix were worth $3,427,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in CorMedix in the 4th quarter valued at $2,953,000. State of Tennessee Department of Treasury bought a new stake in shares of CorMedix during the fourth quarter worth $223,000. Empowered Funds LLC bought a new stake in shares of CorMedix during the fourth quarter worth $1,534,000. VARCOV Co. purchased a new stake in shares of CorMedix during the fourth quarter valued at $1,987,000. Finally, Inspire Investing LLC purchased a new stake in shares of CorMedix during the fourth quarter valued at $1,247,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.
CorMedix Trading Down 0.5%
NASDAQ CRMD opened at $8.83 on Thursday. CorMedix Inc has a one year low of $6.13 and a one year high of $14.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 2.97. The company has a market capitalization of $692.71 million, a price-to-earnings ratio of 4.15 and a beta of 1.48. The company’s 50-day simple moving average is $8.23 and its two-hundred day simple moving average is $8.01.
Wall Street Analyst Weigh In
CRMD has been the topic of several recent analyst reports. Citizens Jmp reaffirmed a “market outperform” rating and issued a $19.00 price target on shares of CorMedix in a research note on Tuesday, April 28th. Royal Bank Of Canada dropped their target price on shares of CorMedix from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday. Zacks Research raised shares of CorMedix from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Needham & Company LLC lifted their price target on shares of CorMedix from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 14th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.86.
Get Our Latest Stock Report on CorMedix
About CorMedix
CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.
In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.
Featured Articles
- Five stocks we like better than CorMedix
- A Market Panic Just Discounted the AI Highway’s Tollbooth
- Why Exxon Could Be the Market’s Next Big Comeback Stock
- The Market Just Got Shaken—These 3 ETFs May Come Out Stronger
- Meta Platforms’ Cloud Push: Growth Opportunity Versus AI Concerns
Want to see what other hedge funds are holding CRMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CorMedix Inc (NASDAQ:CRMD – Free Report).
Receive News & Ratings for CorMedix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CorMedix and related companies with MarketBeat.com's FREE daily email newsletter.
