Geode Capital Management LLC boosted its holdings in shares of CorMedix Inc. (NASDAQ:CRMD - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,392,820 shares of the company's stock after purchasing an additional 108,356 shares during the period. Geode Capital Management LLC owned approximately 2.30% of CorMedix worth $11,284,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CRMD. FMR LLC lifted its stake in CorMedix by 54.3% during the third quarter. FMR LLC now owns 4,618 shares of the company's stock valued at $37,000 after purchasing an additional 1,625 shares during the last quarter. State Street Corp lifted its stake in CorMedix by 0.8% during the third quarter. State Street Corp now owns 1,225,756 shares of the company's stock valued at $9,904,000 after purchasing an additional 10,204 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in CorMedix by 685.5% during the third quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company's stock valued at $1,568,000 after purchasing an additional 169,397 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of CorMedix by 44.5% during the fourth quarter. SG Americas Securities LLC now owns 27,205 shares of the company's stock valued at $220,000 after acquiring an additional 8,372 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of CorMedix during the fourth quarter valued at approximately $81,000. 34.18% of the stock is owned by institutional investors and hedge funds.
CorMedix Price Performance
CRMD traded down $0.04 during trading on Monday, reaching $9.06. 867,830 shares of the stock traded hands, compared to its average volume of 1,035,577. The stock has a market cap of $590.55 million, a price-to-earnings ratio of -11.19 and a beta of 1.57. CorMedix Inc. has a fifty-two week low of $3.61 and a fifty-two week high of $13.85. The stock's 50-day simple moving average is $8.71 and its two-hundred day simple moving average is $9.79.
CorMedix (NASDAQ:CRMD - Get Free Report) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. The firm had revenue of $30.00 million for the quarter, compared to analyst estimates of $27.46 million. CorMedix's revenue for the quarter was up 29900.0% compared to the same quarter last year. Research analysts anticipate that CorMedix Inc. will post -0.32 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on CRMD shares. Needham & Company LLC restated a "buy" rating and set a $12.00 price target on shares of CorMedix in a report on Wednesday, April 9th. Leerink Partners started coverage on shares of CorMedix in a report on Friday, March 7th. They set an "outperform" rating and a $18.00 price target on the stock. Royal Bank of Canada restated an "outperform" rating and set a $12.00 price target on shares of CorMedix in a report on Wednesday, March 26th. Leerink Partnrs upgraded shares of CorMedix to a "strong-buy" rating in a report on Friday, March 7th. Finally, D. Boral Capital restated a "buy" rating and set a $15.00 price target on shares of CorMedix in a report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $14.50.
Read Our Latest Stock Report on CorMedix
About CorMedix
(
Free Report)
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.
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