Renaissance Technologies LLC Invests $1.09 Million in CorMedix Inc. (NASDAQ:CRMD)

Renaissance Technologies LLC acquired a new position in CorMedix Inc. (NASDAQ:CRMD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 134,000 shares of the company's stock, valued at approximately $1,085,000. Renaissance Technologies LLC owned about 0.22% of CorMedix as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CRMD. Invesco Ltd. lifted its stake in CorMedix by 18.1% in the fourth quarter. Invesco Ltd. now owns 24,703 shares of the company's stock worth $200,000 after purchasing an additional 3,784 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of CorMedix in the 4th quarter valued at about $205,000. Wells Fargo & Company MN boosted its holdings in CorMedix by 57.9% during the 4th quarter. Wells Fargo & Company MN now owns 30,421 shares of the company's stock valued at $246,000 after acquiring an additional 11,155 shares during the period. ExodusPoint Capital Management LP grew its position in CorMedix by 62.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 79,289 shares of the company's stock worth $642,000 after acquiring an additional 30,424 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in CorMedix in the 4th quarter worth approximately $159,000. 34.18% of the stock is currently owned by institutional investors.

CorMedix Trading Up 23.6 %

Shares of CRMD stock traded up $2.13 during midday trading on Tuesday, reaching $11.16. 4,185,248 shares of the stock were exchanged, compared to its average volume of 1,064,145. CorMedix Inc. has a 1 year low of $3.61 and a 1 year high of $13.85. The firm has a market cap of $756.76 million, a PE ratio of -13.78 and a beta of 1.54. The company's 50 day moving average is $8.62 and its two-hundred day moving average is $9.76.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. During the same period in the previous year, the business posted ($0.25) EPS. As a group, equities analysts expect that CorMedix Inc. will post -0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRMD. Leerink Partners assumed coverage on shares of CorMedix in a report on Friday, March 7th. They issued an "outperform" rating and a $18.00 target price on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $12.00 price objective on shares of CorMedix in a research report on Wednesday, March 26th. D. Boral Capital reiterated a "buy" rating and set a $15.00 target price on shares of CorMedix in a report on Tuesday. 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. Finally, StockNews.com upgraded CorMedix from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $14.50.

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.