Balyasny Asset Management L.P. Makes New Investment in CorMedix Inc. (NASDAQ:CRMD)

Balyasny Asset Management L.P. purchased a new position in shares of CorMedix Inc. (NASDAQ:CRMD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 44,270 shares of the company's stock, valued at approximately $359,000. Balyasny Asset Management L.P. owned about 0.07% of CorMedix as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in shares of CorMedix during the 4th quarter worth approximately $81,000. Aigen Investment Management LP bought a new stake in CorMedix during the fourth quarter worth $94,000. XTX Topco Ltd purchased a new position in CorMedix in the fourth quarter worth $95,000. Legato Capital Management LLC bought a new position in CorMedix in the 4th quarter valued at $97,000. Finally, Ameriprise Financial Inc. bought a new position in CorMedix in the 4th quarter valued at $103,000. 34.18% of the stock is owned by institutional investors.

CorMedix Trading Up 0.5%

Shares of CRMD stock traded up $0.07 during trading hours on Tuesday, reaching $12.82. The stock had a trading volume of 1,110,021 shares, compared to its average volume of 1,151,512. The firm has a market capitalization of $869.52 million, a PE ratio of -15.83 and a beta of 1.54. CorMedix Inc. has a 12 month low of $3.61 and a 12 month high of $13.85. The stock's fifty day simple moving average is $8.91 and its 200 day simple moving average is $9.75.

CorMedix (NASDAQ:CRMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. The business had revenue of $39.08 million for the quarter, compared to analysts' expectations of $38.90 million. During the same quarter in the previous year, the firm earned ($0.25) earnings per share. As a group, equities research analysts anticipate that CorMedix Inc. will post -0.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CRMD shares. Royal Bank of Canada reissued an "outperform" rating and issued a $12.00 price target on shares of CorMedix in a report on Wednesday, March 26th. Needham & Company LLC increased their target price on shares of CorMedix from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. StockNews.com upgraded shares of CorMedix from a "sell" rating to a "hold" rating in a research note on Tuesday, April 1st. D. Boral Capital reiterated a "buy" rating and issued a $15.00 price objective on shares of CorMedix in a research note on Tuesday, May 6th. Finally, Leerink Partners began coverage on CorMedix in a research report on Friday, March 7th. They issued an "outperform" rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CorMedix currently has a consensus rating of "Buy" and a consensus target price of $15.00.

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.