Cubist Systematic Strategies LLC Acquires Shares of 72,354 CorMedix Inc. (NASDAQ:CRMD)

Cubist Systematic Strategies LLC purchased a new stake in CorMedix Inc. (NASDAQ:CRMD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 72,354 shares of the company's stock, valued at approximately $586,000. Cubist Systematic Strategies LLC owned 0.12% of CorMedix as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of CorMedix by 10.1% during the 4th quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company's stock worth $27,363,000 after acquiring an additional 309,514 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of CorMedix by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 1,392,820 shares of the company's stock worth $11,284,000 after buying an additional 108,356 shares in the last quarter. Northern Trust Corp boosted its position in shares of CorMedix by 14.4% during the 4th quarter. Northern Trust Corp now owns 511,565 shares of the company's stock worth $4,144,000 after purchasing an additional 64,243 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in CorMedix by 40.8% in the fourth quarter. JPMorgan Chase & Co. now owns 273,218 shares of the company's stock valued at $2,213,000 after buying an additional 79,110 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in CorMedix by 11.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,418 shares of the company's stock worth $1,413,000 after purchasing an additional 17,869 shares during the last quarter. Institutional investors and hedge funds own 34.18% of the company's stock.

CorMedix Stock Performance

Shares of NASDAQ:CRMD traded down $0.00 during midday trading on Wednesday, reaching $12.82. The company had a trading volume of 267,389 shares, compared to its average volume of 1,606,321. The company has a fifty day simple moving average of $8.91 and a two-hundred day simple moving average of $9.75. The firm has a market cap of $869.25 million, a price-to-earnings ratio of -15.82 and a beta of 1.54. CorMedix Inc. has a 1-year low of $3.61 and a 1-year high of $13.85.

CorMedix (NASDAQ:CRMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. The company had revenue of $39.08 million for the quarter, compared to the consensus estimate of $38.90 million. During the same quarter last year, the business earned ($0.25) earnings per share. Analysts expect that CorMedix Inc. will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Needham & Company LLC lifted their price objective on CorMedix from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $12.00 target price on shares of CorMedix in a research note on Wednesday, March 26th. D. Boral Capital reaffirmed a "buy" rating and set a $15.00 price target on shares of CorMedix in a report on Tuesday, May 6th. Leerink Partnrs raised shares of CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Finally, StockNews.com upgraded CorMedix from a "sell" rating to a "hold" rating in a research note on Tuesday, April 1st. 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus 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.