Caption Management LLC Buys New Holdings in CorMedix Inc $CRMD

Key Points

• Caption Management LLC invested approximately $113,000 in CorMedix Inc, acquiring 18,409 shares during the first quarter, reflecting growing institutional interest in the stock.
• CorMedix reported a significant increase in quarterly revenue, achieving $39.74 million compared to analyst estimates of $29.88 million, with a remarkable year-over-year growth of 4830.1%.
• Analysts have varying outlooks on CorMedix, with an average target price of $17.33 and ratings ranging from "strong buy" to "hold," indicating mixed sentiment in the market.

Caption Management LLC bought a new position in shares of CorMedix Inc (NASDAQ:CRMD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,409 shares of the company's stock, valued at approximately $113,000.

Other large investors have also recently modified their holdings of the company. Trexquant Investment LP lifted its stake in shares of CorMedix by 588.9% during the 1st quarter. Trexquant Investment LP now owns 135,487 shares of the company's stock valued at $835,000 after buying an additional 115,819 shares in the last quarter. AlphaQuest LLC raised its holdings in CorMedix by 21.0% during the 1st quarter. AlphaQuest LLC now owns 17,112 shares of the company's stock valued at $105,000 after acquiring an additional 2,973 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of CorMedix during the first quarter worth $66,000. Nuveen LLC bought a new position in shares of CorMedix in the first quarter worth $1,692,000. Finally, Invesco Ltd. grew its position in shares of CorMedix by 1,070.3% in the first quarter. Invesco Ltd. now owns 289,110 shares of the company's stock valued at $1,781,000 after purchasing an additional 264,407 shares in the last quarter. Hedge funds and other institutional investors own 34.18% of the company's stock.

Analysts Set New Price Targets

CRMD has been the topic of a number of recent research reports. D. Boral Capital cut CorMedix from a "buy" rating to a "hold" rating in a report on Monday, June 30th. Needham & Company LLC upped their price target on shares of CorMedix from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. D Boral Capital downgraded CorMedix from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 30th. HC Wainwright reduced their target price on CorMedix from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Wall Street Zen lowered CorMedix from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.33.

CorMedix Price Performance

NASDAQ CRMD traded down $0.40 during trading hours on Friday, reaching $12.40. 4,657,464 shares of the stock traded hands, compared to its average volume of 4,416,197. The stock has a 50 day simple moving average of $12.20 and a two-hundred day simple moving average of $11.14. CorMedix Inc has a 1 year low of $5.31 and a 1 year high of $17.43. The company has a market cap of $925.66 million, a price-to-earnings ratio of 16.53 and a beta of 1.76.

CorMedix (NASDAQ:CRMD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.08. The firm had revenue of $39.74 million during the quarter, compared to analysts' expectations of $29.88 million. CorMedix had a return on equity of 42.73% and a net margin of 42.11%.The company's revenue for the quarter was up 4830.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.25) EPS. On average, sell-side analysts forecast that CorMedix Inc will post -0.32 EPS for the current fiscal year.

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.