Nicholas Investment Partners LP bought a new stake in shares of CorMedix Inc. (NASDAQ:CRMD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 94,132 shares of the company's stock, valued at approximately $762,000. Nicholas Investment Partners LP owned about 0.16% of CorMedix at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in CRMD. Vanguard Group Inc. boosted its holdings in shares of 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 during the period. Elliott Investment Management L.P. lifted its holdings in CorMedix by 85.1% in the 4th quarter. Elliott Investment Management L.P. now owns 2,870,632 shares of the company's stock valued at $23,252,000 after acquiring an additional 1,320,109 shares during the last quarter. Geode Capital Management LLC lifted its holdings in CorMedix by 8.4% in the 4th 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 during the last quarter. Northern Trust Corp lifted its stake in CorMedix by 14.4% during the fourth quarter. Northern Trust Corp now owns 511,565 shares of the company's stock valued at $4,144,000 after buying an additional 64,243 shares in the last quarter. Finally, J. Goldman & Co LP lifted its stake in CorMedix by 221.1% during the fourth quarter. J. Goldman & Co LP now owns 457,320 shares of the company's stock valued at $3,704,000 after buying an additional 314,880 shares in the last quarter. Institutional investors own 34.18% of the company's stock.
CorMedix Price Performance
NASDAQ:CRMD traded up $0.59 during mid-day trading on Friday, reaching $12.28. The stock had a trading volume of 1,420,734 shares, compared to its average volume of 1,150,246. The business's 50 day moving average is $8.88 and its 200 day moving average is $9.73. CorMedix Inc. has a fifty-two week low of $3.61 and a fifty-two week high of $13.85. The stock has a market cap of $832.89 million, a P/E ratio of -15.16 and a beta of 1.54.
CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 EPS 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 analyst estimates of $38.90 million. During the same quarter last year, the business earned ($0.25) EPS. Equities analysts expect that CorMedix Inc. will post -0.32 EPS for the current year.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Needham & Company LLC increased their price target on shares of CorMedix from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. D. Boral Capital reissued a "buy" rating and issued a $15.00 price target on shares of CorMedix in a research report on Tuesday, May 6th. Royal Bank of Canada reissued an "outperform" rating and issued a $12.00 price target on shares of CorMedix in a research report on Wednesday, March 26th. StockNews.com raised shares of CorMedix from a "sell" rating to a "hold" rating in a research report on Tuesday, April 1st. Finally, Leerink Partnrs upgraded CorMedix to a "strong-buy" rating in a report on Friday, March 7th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $15.00.
Check Out Our Latest Stock Analysis 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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