Private Advisor Group LLC Grows Stock Position in CorMedix Inc (NASDAQ:CRMD)

Private Advisor Group LLC grew its holdings in CorMedix Inc (NASDAQ:CRMD - Free Report) by 427.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,509 shares of the company's stock after purchasing an additional 69,285 shares during the period. Private Advisor Group LLC owned approximately 0.13% of CorMedix worth $527,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CRMD. Bank of America Corp DE lifted its holdings in shares of CorMedix by 1.9% in the 4th quarter. Bank of America Corp DE now owns 60,115 shares of the company's stock worth $487,000 after acquiring an additional 1,124 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in CorMedix by 1.0% in the 4th quarter. Nuveen Asset Management LLC now owns 171,978 shares of the company's stock worth $1,393,000 after purchasing an additional 1,679 shares in the last quarter. Sigma Planning Corp grew its position in shares of CorMedix by 7.8% in the 1st quarter. Sigma Planning Corp now owns 36,305 shares of the company's stock worth $224,000 after buying an additional 2,612 shares during the period. MetLife Investment Management LLC grew its position in shares of CorMedix by 10.6% in the 4th quarter. MetLife Investment Management LLC now owns 39,415 shares of the company's stock worth $319,000 after buying an additional 3,776 shares during the period. Finally, Invesco Ltd. grew its position in shares of CorMedix by 18.1% in the 4th quarter. Invesco Ltd. now owns 24,703 shares of the company's stock worth $200,000 after buying an additional 3,784 shares during the period. Hedge funds and other institutional investors own 34.18% of the company's stock.

CorMedix Trading Down 0.3%

Shares of CRMD traded down $0.03 during midday trading on Friday, reaching $11.64. 1,634,375 shares of the stock were exchanged, compared to its average volume of 1,747,322. CorMedix Inc has a 52 week low of $3.61 and a 52 week high of $17.43. The company's 50 day moving average is $12.61 and its two-hundred day moving average is $10.83. The company has a market capitalization of $789.42 million, a P/E ratio of 52.91 and a beta of 1.71.

CorMedix (NASDAQ:CRMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The firm had revenue of $39.08 million during the quarter, compared to analysts' expectations of $38.90 million. CorMedix had a return on equity of 22.57% and a net margin of 20.81%. During the same period in the prior year, the business posted ($0.25) EPS. On average, sell-side analysts expect that CorMedix Inc will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CRMD shares. Royal Bank Of Canada raised shares of CorMedix from an "outperform" rating to a "moderate buy" rating and increased their price objective for the company from $13.00 to $17.00 in a research report on Friday, June 20th. 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 research report on Tuesday, June 24th. D Boral Capital cut CorMedix from a "strong-buy" rating to a "hold" rating in a report on Monday, June 30th. D. Boral Capital cut CorMedix from a "buy" rating to a "hold" rating in a report on Monday, June 30th. Finally, HC Wainwright began coverage on CorMedix in a research report on Monday, June 30th. They set a "buy" rating and a $20.00 target price on the stock. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, CorMedix has an average rating of "Moderate Buy" and a consensus target price of $17.14.

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.