CorMedix Inc. (NASDAQ:CRMD) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its position in shares of CorMedix Inc. (NASDAQ:CRMD - Free Report) by 97.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,658 shares of the company's stock after selling 721,401 shares during the quarter. Voya Investment Management LLC's holdings in CorMedix were worth $143,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of CorMedix by 10.1% during the 4th quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company's stock valued at $27,363,000 after purchasing an additional 309,514 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of CorMedix by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 1,392,820 shares of the company's stock valued at $11,284,000 after purchasing an additional 108,356 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CorMedix by 40.8% during the 4th quarter. JPMorgan Chase & Co. now owns 273,218 shares of the company's stock valued at $2,213,000 after purchasing an additional 79,110 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CorMedix by 11.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 174,418 shares of the company's stock valued at $1,413,000 after purchasing an additional 17,869 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of CorMedix by 1,398.2% during the 4th quarter. New York State Common Retirement Fund now owns 167,249 shares of the company's stock valued at $1,355,000 after purchasing an additional 156,086 shares in the last quarter. 34.18% of the stock is owned by hedge funds and other institutional investors.

CorMedix Trading Up 5.0%

CRMD traded up $0.59 on Friday, hitting $12.28. 1,420,734 shares of the company's stock were exchanged, compared to its average volume of 1,150,246. CorMedix Inc. has a fifty-two week low of $3.61 and a fifty-two week high of $13.85. The firm has a 50-day moving average price of $8.88 and a 200-day moving average price of $9.73. The stock has a market cap of $832.89 million, a price-to-earnings ratio of -15.16 and a beta of 1.54.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. The business had revenue of $39.08 million for the quarter, compared to analyst estimates of $38.90 million. During the same period last year, the firm earned ($0.25) EPS. On average, equities analysts predict that CorMedix Inc. will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Needham & Company LLC boosted their price target on shares of CorMedix from $12.00 to $15.00 and gave the stock a "buy" rating in a 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 report on Tuesday, May 6th. Leerink Partners assumed coverage on shares of CorMedix in a report on Friday, March 7th. They issued an "outperform" rating and a $18.00 price target for the company. StockNews.com raised shares of CorMedix from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st. Finally, Leerink Partnrs raised shares of CorMedix to a "strong-buy" rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $15.00.

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.