CorMedix Inc. (NASDAQ:CRMD) Stock Position Increased by Raymond James & Associates

Raymond James & Associates grew its position in CorMedix Inc. (NASDAQ:CRMD) by 15.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,827 shares of the company’s stock after purchasing an additional 5,800 shares during the period. Raymond James & Associates owned approximately 0.08% of CorMedix worth $161,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of CorMedix by 16.2% during the third quarter. Bank of New York Mellon Corp now owns 151,566 shares of the company’s stock valued at $561,000 after purchasing an additional 21,185 shares in the last quarter. GSG Advisors LLC acquired a new position in shares of CorMedix during the third quarter valued at approximately $111,000. Finally, SG Americas Securities LLC bought a new stake in CorMedix during the fourth quarter worth approximately $107,000. Institutional investors and hedge funds own 34.18% of the company’s stock.

Insider Buying and Selling

In other news, CEO Joseph Todisco acquired 13,561 shares of the stock in a transaction on Wednesday, March 13th. The shares were purchased at an average cost of $3.74 per share, for a total transaction of $50,718.14. Following the transaction, the chief executive officer now owns 352,839 shares in the company, valued at approximately $1,319,617.86. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.60% of the company’s stock.

CorMedix Trading Up 5.0 %

Shares of CRMD opened at $5.52 on Thursday. The business’s 50-day moving average price is $4.38 and its 200 day moving average price is $3.73. The stock has a market capitalization of $302.55 million, a P/E ratio of -6.00 and a beta of 1.86. CorMedix Inc. has a 1-year low of $2.57 and a 1-year high of $7.00.

CorMedix (NASDAQ:CRMD) last announced its earnings results on Tuesday, March 12th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.05). On average, research analysts predict that CorMedix Inc. will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRMD. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of CorMedix in a research report on Tuesday, April 9th. Royal Bank of Canada cut their price target on shares of CorMedix from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Wednesday, March 13th. JMP Securities reissued a “market outperform” rating and set a $19.00 target price on shares of CorMedix in a research note on Tuesday, April 9th. Finally, Truist Financial decreased their price target on shares of CorMedix from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st.

CorMedix Company Profile

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. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.