CorMedix Inc. (NASDAQ:CRMD) Shares Sold by GSG Advisors LLC

GSG Advisors LLC cut its stake in CorMedix Inc. (NASDAQ:CRMD) by 29.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,500 shares of the company’s stock after selling 11,000 shares during the period. GSG Advisors LLC’s holdings in CorMedix were worth $215,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in CorMedix by 109.6% during the 2nd quarter. Marshall Wace LLP now owns 152,275 shares of the company’s stock worth $659,000 after buying an additional 79,619 shares during the period. State Street Corp boosted its stake in CorMedix by 0.8% in the 3rd quarter. State Street Corp now owns 1,225,756 shares of the company’s stock worth $9,904,000 after purchasing an additional 10,204 shares during the period. The Manufacturers Life Insurance Company boosted its stake in CorMedix by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock worth $100,000 after purchasing an additional 2,700 shares during the period. FMR LLC raised its stake in CorMedix by 54.3% during the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after purchasing an additional 1,625 shares during the period. Finally, Geode Capital Management LLC lifted its stake in CorMedix by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,284,464 shares of the company’s stock worth $10,380,000 after acquiring an additional 13,171 shares in the last quarter. 34.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Elizabeth Hurlburt sold 140,027 shares of CorMedix stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $11.18, for a total transaction of $1,565,501.86. Following the sale, the executive vice president now directly owns 45,397 shares of the company’s stock, valued at $507,538.46. This trade represents a 75.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com upgraded CorMedix to a “sell” rating in a report on Friday, November 8th. D. Boral Capital initiated coverage on shares of CorMedix in a research note on Monday. They issued a “buy” rating and a $15.00 price target on the stock. Royal Bank of Canada increased their price objective on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Truist Financial upped their target price on CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC lifted their price target on CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, CorMedix has a consensus rating of “Moderate Buy” and an average price target of $15.67.

CorMedix Trading Down 0.6 %

NASDAQ CRMD opened at $11.12 on Tuesday. The company has a market cap of $674.73 million, a P/E ratio of -13.73 and a beta of 1.56. CorMedix Inc. has a 1 year low of $2.89 and a 1 year high of $13.85. The company has a fifty day simple moving average of $9.65 and a 200 day simple moving average of $7.78.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05. The business had revenue of $11.46 million for the quarter, compared to analyst estimates of $11.00 million. During the same period in the prior year, the firm posted ($0.17) EPS. Equities research analysts forecast that CorMedix Inc. will post -0.46 EPS for the current fiscal year.

About CorMedix

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.