MJP Associates Inc. ADV Makes New $94,000 Investment in CorMedix Inc. (NASDAQ:CRMD)

MJP Associates Inc. ADV purchased a new position in shares of CorMedix Inc. (NASDAQ:CRMD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,000 shares of the company’s stock, valued at approximately $94,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRMD. Quantbot Technologies LP acquired a new stake in shares of CorMedix during the first quarter worth approximately $38,000. Baystate Wealth Management LLC acquired a new stake in shares of CorMedix during the second quarter worth approximately $40,000. Renaissance Technologies LLC bought a new stake in shares of CorMedix during the first quarter worth $56,000. Ameriprise Financial Inc. acquired a new stake in shares of CorMedix in the third quarter valued at $40,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of CorMedix in the second quarter valued at $44,000. Institutional investors own 34.18% of the company’s stock.

Insider Activity at CorMedix

In other news, CEO Joseph Todisco purchased 13,561 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired 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 directly owns 352,839 shares of the company’s stock, valued at approximately $1,319,617.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.60% of the stock is currently owned by corporate insiders.

CorMedix Stock Performance

Shares of NASDAQ:CRMD traded up $0.08 during mid-day trading on Thursday, reaching $4.24. The stock had a trading volume of 339,271 shares, compared to its average volume of 435,285. The firm has a 50 day simple moving average of $3.44 and a two-hundred day simple moving average of $3.49. CorMedix Inc. has a twelve month low of $2.57 and a twelve month high of $6.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Royal Bank of Canada decreased their price objective on shares of CorMedix from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th. Truist Financial decreased their price objective on shares of CorMedix from $18.00 to $14.00 and set a “buy” rating on the stock in a 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.