CorMedix Inc (NASDAQ:CRMD) Shares Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its holdings in CorMedix Inc by 234.2%, now owning approximately 0.06% of the company, valued at $242,000 as of its latest SEC filing.
• CorMedix reported strong quarterly earnings, with $0.28 EPS surpassing analyst expectations of $0.20 and a revenue growth of 4830.1% year-over-year.
• Hedge funds collectively own 34.18% of CorMedix, with multiple firms adjusting their positions, including SBI Securities, which boosted its holdings by 699.7%.

XTX Topco Ltd lifted its position in CorMedix Inc (NASDAQ:CRMD - Free Report) by 234.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,333 shares of the company's stock after purchasing an additional 27,562 shares during the quarter. XTX Topco Ltd owned about 0.06% of CorMedix worth $242,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CRMD. Vanguard Group Inc. raised its position in CorMedix by 10.1% during the fourth quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company's stock valued at $27,363,000 after acquiring an additional 309,514 shares in the last quarter. JPMorgan Chase & Co. raised its position in CorMedix by 40.8% during the fourth quarter. JPMorgan Chase & Co. now owns 273,218 shares of the company's stock valued at $2,213,000 after acquiring an additional 79,110 shares in the last quarter. Alliancebernstein L.P. raised its position in CorMedix by 53.0% during the fourth quarter. Alliancebernstein L.P. now owns 49,780 shares of the company's stock valued at $403,000 after acquiring an additional 17,250 shares in the last quarter. Franklin Resources Inc. purchased a new position in CorMedix during the fourth quarter valued at approximately $177,000. Finally, Geode Capital Management LLC raised its position in CorMedix by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 1,392,820 shares of the company's stock valued at $11,284,000 after acquiring an additional 108,356 shares in the last quarter. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

CorMedix Trading Up 2.5%

CRMD traded up $0.32 during trading on Friday, hitting $12.93. The company's stock had a trading volume of 2,457,616 shares, compared to its average volume of 1,902,341. CorMedix Inc has a twelve month low of $4.67 and a twelve month high of $17.43. The business's fifty day simple moving average is $12.43 and its 200 day simple moving average is $10.79. The firm has a market capitalization of $965.22 million, a price-to-earnings ratio of 17.24 and a beta of 1.71.

CorMedix (NASDAQ:CRMD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.20 by $0.08. CorMedix had a return on equity of 42.73% and a net margin of 42.11%. The company had revenue of $39.74 million for the quarter, compared to analyst estimates of $29.88 million. During the same period last year, the company earned ($0.25) earnings per share. CorMedix's quarterly revenue was up 4830.1% compared to the same quarter last year. As a group, equities research analysts forecast that CorMedix Inc will post -0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. HC Wainwright set a $17.00 price target on CorMedix and gave the company a "buy" rating in a research report on Friday, August 8th. Royal Bank Of Canada upgraded CorMedix from an "outperform" rating to a "moderate buy" rating and lifted their price target for the company from $13.00 to $17.00 in a research report on Friday, June 20th. Needham & Company LLC lifted their price target on CorMedix from $15.00 to $20.00 and gave the company 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 research report on Monday, June 30th. Finally, Wall Street Zen cut CorMedix from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, CorMedix presently has an average rating of "Moderate Buy" and a consensus price target of $16.71.

About CorMedix

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.