Renaissance Technologies LLC Invests $1.09 Million in CorMedix Inc. (NASDAQ:CRMD)

Renaissance Technologies LLC bought a new position in CorMedix Inc. (NASDAQ:CRMD) in the 4th quarter, Holdings Channel reports. The firm bought 134,000 shares of the company’s stock, valued at approximately $1,085,000.

Several other institutional investors have also recently made changes to their positions in the company. AlphaMark Advisors LLC lifted its holdings in CorMedix by 16.7% during the 4th quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company’s stock valued at $113,000 after buying an additional 2,000 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in CorMedix by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company’s stock valued at $1,214,000 after buying an additional 3,221 shares in the last quarter. Invesco Ltd. lifted its holdings in CorMedix by 18.1% during the 4th quarter. Invesco Ltd. now owns 24,703 shares of the company’s stock valued at $200,000 after buying an additional 3,784 shares in the last quarter. Rhumbline Advisers lifted its holdings in CorMedix by 8.6% during the 4th quarter. Rhumbline Advisers now owns 75,747 shares of the company’s stock valued at $614,000 after buying an additional 6,028 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in CorMedix by 44.5% during the 4th quarter. SG Americas Securities LLC now owns 27,205 shares of the company’s stock valued at $220,000 after buying an additional 8,372 shares in the last quarter. Institutional investors own 34.18% of the company’s stock.

CorMedix Trading Up 0.8 %

Shares of CRMD opened at $9.19 on Thursday. CorMedix Inc. has a 12 month low of $3.61 and a 12 month high of $13.85. The stock has a fifty day moving average price of $8.66 and a 200-day moving average price of $9.78. The firm has a market cap of $599.02 million, a PE ratio of -11.35 and a beta of 1.57.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. The business had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $27.46 million. The company’s revenue was up 29900.0% on a year-over-year basis. As a group, research analysts forecast that CorMedix Inc. will post -0.32 EPS for the current year.

Analyst Upgrades and Downgrades

CRMD has been the subject of a number of research analyst reports. D. Boral Capital reiterated a “buy” rating and set a $15.00 price objective on shares of CorMedix in a report on Tuesday, April 8th. Leerink Partnrs raised shares of CorMedix to a “strong-buy” rating in a research report on Friday, March 7th. Needham & Company LLC reissued a “buy” rating and set a $12.00 target price on shares of CorMedix in a research report on Wednesday, April 9th. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 target price on shares of CorMedix in a research report on Wednesday, March 26th. Finally, Leerink Partners initiated coverage on shares of CorMedix in a research report on Friday, March 7th. They set an “outperform” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $14.50.

CorMedix 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.