CorMedix Inc $CRMD Stock Holdings Lifted by Profund Advisors LLC

Profund Advisors LLC lifted its position in shares of CorMedix Inc (NASDAQ:CRMD) by 458.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 127,465 shares of the company’s stock after acquiring an additional 104,629 shares during the period. Profund Advisors LLC’s holdings in CorMedix were worth $981,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CRMD. China Universal Asset Management Co. Ltd. grew its stake in CorMedix by 13.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,222 shares of the company’s stock valued at $113,000 after acquiring an additional 1,736 shares during the last quarter. Sigma Planning Corp lifted its holdings in shares of CorMedix by 8.5% in the third quarter. Sigma Planning Corp now owns 32,142 shares of the company’s stock valued at $247,000 after purchasing an additional 2,531 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in shares of CorMedix by 69.7% in the second quarter. WINTON GROUP Ltd now owns 65,061 shares of the company’s stock valued at $511,000 after purchasing an additional 26,723 shares in the last quarter. HighTower Advisors LLC grew its position in shares of CorMedix by 8.2% in the second quarter. HighTower Advisors LLC now owns 32,655 shares of the company’s stock valued at $256,000 after purchasing an additional 2,476 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of CorMedix in the second quarter valued at approximately $247,000. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CRMD shares. Weiss Ratings raised shares of CorMedix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Needham & Company LLC reduced their target price on CorMedix from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank Of Canada upped their target price on CorMedix from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Finally, Oppenheimer started coverage on CorMedix in a report on Wednesday, September 23rd. They set an “outperform” rating and a $15.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.62.

CorMedix Stock Performance

Shares of CRMD opened at $5.56 on Wednesday. CorMedix Inc has a 1 year low of $5.30 and a 1 year high of $13.02. The company’s 50 day simple moving average is $7.69 and its 200 day simple moving average is $7.65. The company has a market capitalization of $433.35 million, a price-to-earnings ratio of 2.84, a PEG ratio of 1.01 and a beta of 1.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 2.56.

CorMedix (NASDAQ:CRMD) last released its earnings results on Thursday, August 13th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. The firm had revenue of $101.93 million during the quarter, compared to analysts’ expectations of $96.04 million. CorMedix had a net margin of 40.49% and a return on equity of 40.52%. On average, sell-side analysts predict that CorMedix Inc will post 0.54 EPS for the current year.

CorMedix Company Profile

CorMedix Inc is a biopharmaceutical company focused on developing and commercializing products designed to prevent and treat life-threatening infections and inflammatory conditions. The company’s lead product is DefenCath, a catheter-lock solution containing taurolidine and citrate.

DefenCath is approved by the U.S. Food and Drug Administration for use in adult patients with kidney failure who are receiving chronic hemodialysis through a central venous catheter. It is intended to reduce the risk of catheter-related bloodstream infections, a significant complication for patients who depend on long-term vascular access.