Hussman Strategic Advisors Inc. Acquires 252,000 Shares of CorMedix Inc $CRMD

Hussman Strategic Advisors Inc. increased its holdings in shares of CorMedix Inc (NASDAQ:CRMD) by 400.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 315,000 shares of the company’s stock after purchasing an additional 252,000 shares during the period. CorMedix makes up 0.8% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 13th biggest holding. Hussman Strategic Advisors Inc.’s holdings in CorMedix were worth $3,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of CRMD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CorMedix by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company’s stock worth $222,000 after acquiring an additional 1,631 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of CorMedix by 5.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,114 shares of the company’s stock valued at $338,000 after purchasing an additional 1,478 shares in the last quarter. USA Financial Formulas bought a new stake in shares of CorMedix during the 2nd quarter valued at approximately $55,000. Allspring Global Investments Holdings LLC acquired a new position in CorMedix during the 2nd quarter worth approximately $165,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in CorMedix during the 2nd quarter worth approximately $270,000. 34.18% of the stock is owned by institutional investors and hedge funds.

CorMedix Stock Performance

Shares of CorMedix stock opened at $7.75 on Wednesday. The stock has a market cap of $610.62 million, a price-to-earnings ratio of 3.76 and a beta of 1.36. CorMedix Inc has a twelve month low of $5.60 and a twelve month high of $17.43. The company’s fifty day moving average is $10.05 and its 200 day moving average is $11.17. The company has a quick ratio of 1.73, a current ratio of 1.94 and a debt-to-equity ratio of 0.39.

CorMedix (NASDAQ:CRMD) last announced its earnings results on Wednesday, November 12th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.48 by $0.78. The firm had revenue of $104.28 million for the quarter, compared to the consensus estimate of $65.63 million. CorMedix had a return on equity of 51.77% and a net margin of 75.83%.The business’s quarterly revenue was up 810.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) EPS. Sell-side analysts forecast that CorMedix Inc will post -0.32 EPS for the current year.

Insider Activity at CorMedix

In other CorMedix news, Director Steven W. Lefkowitz sold 40,000 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $11.88, for a total transaction of $475,200.00. Following the completion of the sale, the director owned 80,498 shares of the company’s stock, valued at approximately $956,316.24. This represents a 33.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alan W. Dunton sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $13.00, for a total transaction of $260,000.00. Following the transaction, the director owned 40,250 shares of the company’s stock, valued at approximately $523,250. The trade was a 33.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 90,000 shares of company stock worth $1,095,200 over the last ninety days. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. D. Boral Capital restated a “buy” rating and issued a $14.00 target price on shares of CorMedix in a research report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of CorMedix in a research note on Wednesday, January 21st. Needham & Company LLC cut their price objective on CorMedix from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. HC Wainwright reduced their price objective on CorMedix from $18.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Finally, Wall Street Zen downgraded CorMedix from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $15.86.

CorMedix Profile

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.