Sanctuary Advisors LLC Sells 117,527 Shares of CorMedix Inc $CRMD

Sanctuary Advisors LLC lessened its holdings in CorMedix Inc (NASDAQ:CRMD) by 87.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 17,142 shares of the company’s stock after selling 117,527 shares during the period. Sanctuary Advisors LLC’s holdings in CorMedix were worth $116,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CRMD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of CorMedix by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company’s stock valued at $222,000 after acquiring an additional 1,631 shares in the last quarter. Legal & General Group Plc raised its stake in CorMedix by 17.1% during the 2nd quarter. Legal & General Group Plc now owns 62,620 shares of the company’s stock valued at $771,000 after purchasing an additional 9,155 shares during the period. Rhumbline Advisers raised its stake in CorMedix by 13.9% during the 2nd quarter. Rhumbline Advisers now owns 92,905 shares of the company’s stock valued at $1,145,000 after purchasing an additional 11,340 shares during the period. Russell Investments Group Ltd. lifted its holdings in CorMedix by 22.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock worth $81,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in CorMedix in the 2nd quarter worth approximately $199,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.

CorMedix Stock Performance

Shares of NASDAQ CRMD opened at $7.53 on Monday. CorMedix Inc has a twelve month low of $6.13 and a twelve month high of $14.96. The firm has a market cap of $590.73 million, a PE ratio of 3.54 and a beta of 1.50. The business has a fifty day simple moving average of $8.31 and a two-hundred day simple moving average of $7.62. The company has a quick ratio of 2.74, a current ratio of 2.97 and a debt-to-equity ratio of 0.33.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.35 by $0.08. CorMedix had a return on equity of 45.57% and a net margin of 45.25%.The firm had revenue of $127.43 million for the quarter, compared to analyst estimates of $104.96 million. During the same quarter last year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 226.1% on a year-over-year basis. Analysts expect that CorMedix Inc will post 0.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CRMD shares. Leerink Partners increased their price objective on shares of CorMedix from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Royal Bank Of Canada lowered their target price on shares of CorMedix from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Needham & Company LLC upped their target price on shares of CorMedix from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Zacks Research raised shares of CorMedix from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $14.00 target price on shares of CorMedix in a research report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, CorMedix has an average rating of “Moderate Buy” and an average price target of $14.86.

CorMedix Company 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.