Barclays PLC Buys 27,732 Shares of CorMedix Inc. (NASDAQ:CRMD)

Barclays PLC raised its stake in CorMedix Inc. (NASDAQ:CRMD - Free Report) by 35.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,602 shares of the company's stock after buying an additional 27,732 shares during the period. Barclays PLC owned about 0.17% of CorMedix worth $855,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRMD. JPMorgan Chase & Co. boosted its holdings in shares of CorMedix by 685.5% during the third quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company's stock worth $1,568,000 after purchasing an additional 169,397 shares during the period. SG Americas Securities LLC lifted its holdings in shares of CorMedix by 44.5% during the 4th quarter. SG Americas Securities LLC now owns 27,205 shares of the company's stock valued at $220,000 after buying an additional 8,372 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of CorMedix during the 4th quarter valued at $81,000. AlphaMark Advisors LLC grew its holdings in shares of CorMedix by 16.7% in the fourth quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company's stock worth $113,000 after acquiring an additional 2,000 shares during the period. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in CorMedix during the fourth quarter valued at $104,000. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

CorMedix Stock Performance

CRMD stock traded down $0.37 during midday trading on Friday, reaching $11.66. The company's stock had a trading volume of 4,579,383 shares, compared to its average volume of 1,134,917. CorMedix Inc. has a 1 year low of $3.61 and a 1 year high of $13.85. The firm has a market capitalization of $790.84 million, a price-to-earnings ratio of -14.39 and a beta of 1.54. The stock has a fifty day simple moving average of $8.73 and a two-hundred day simple moving average of $9.75.

CorMedix (NASDAQ:CRMD - Get Free Report) last posted its quarterly 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 company had revenue of $39.08 million during the quarter, compared to analysts' expectations of $38.90 million. During the same period in the prior year, the business earned ($0.25) EPS. As a group, analysts forecast that CorMedix Inc. will post -0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

CorMedix 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.