CorMedix Inc. (NYSEAMERICAN:CRMD)’s share price rose 0.6% on Wednesday . The stock traded as high as $3.08 and last traded at $3.10, approximately 22,427 shares traded hands during mid-day trading. A decline of 92% from the average daily volume of 282,956 shares. The stock had previously closed at $3.08.
CRMD has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of CorMedix in a report on Wednesday, March 18th. Zacks Investment Research raised shares of CorMedix from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a report on Wednesday. Finally, B. Riley dropped their target price on shares of CorMedix from $15.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, March 18th.
CorMedix (NYSEAMERICAN:CRMD) last released its quarterly earnings data on Monday, March 16th. The biotechnology company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. The company had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.10 million.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRMD. Tower Research Capital LLC TRC bought a new position in shares of CorMedix during the 3rd quarter valued at about $29,000. Citigroup Inc. raised its position in shares of CorMedix by 340.9% during the 4th quarter. Citigroup Inc. now owns 5,150 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 3,982 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of CorMedix during the 4th quarter valued at about $50,000. California Public Employees Retirement System purchased a new stake in shares of CorMedix during the 4th quarter valued at about $122,000. Finally, Wealthstreet Investment Advisors LLC raised its position in shares of CorMedix by 8.0% during the 4th quarter. Wealthstreet Investment Advisors LLC now owns 20,200 shares of the biotechnology company’s stock valued at $147,000 after buying an additional 1,500 shares in the last quarter.
About CorMedix (NYSEAMERICAN:CRMD)
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 and internationally. It primarily focuses on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as dialysis, critical/intensive care, and oncology.
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