Creative Planning Buys Shares of 15,917 CorMedix Inc. (NASDAQ:CRMD)

Creative Planning purchased a new stake in shares of CorMedix Inc. (NASDAQ:CRMD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,917 shares of the company’s stock, valued at approximately $129,000.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of CorMedix by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,928,186 shares of the company’s stock valued at $12,416,000 after buying an additional 102,851 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CorMedix by 19.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 158,901 shares of the company’s stock valued at $688,000 after buying an additional 25,677 shares in the last quarter. Marshall Wace LLP boosted its holdings in CorMedix by 109.6% in the 2nd quarter. Marshall Wace LLP now owns 152,275 shares of the company’s stock worth $659,000 after buying an additional 79,619 shares during the period. Commonwealth Equity Services LLC increased its stake in CorMedix by 150.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 94,752 shares of the company’s stock worth $410,000 after buying an additional 56,963 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in CorMedix by 18.0% during the second quarter. Rhumbline Advisers now owns 74,239 shares of the company’s stock valued at $321,000 after acquiring an additional 11,339 shares during the period. 34.18% of the stock is currently owned by institutional investors.

CorMedix Price Performance

Shares of CRMD stock opened at $11.67 on Wednesday. The stock’s fifty day moving average price is $9.10 and its 200 day moving average price is $6.38. CorMedix Inc. has a 1-year low of $2.57 and a 1-year high of $13.85. The company has a market cap of $708.10 million, a price-to-earnings ratio of -14.23 and a beta of 1.58.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $11.46 million for the quarter, compared to analysts’ expectations of $11.00 million. During the same period last year, the firm earned ($0.17) earnings per share. As a group, equities research analysts anticipate that CorMedix Inc. will post -0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CRMD shares. Royal Bank of Canada restated an “outperform” rating and set a $9.00 target price on shares of CorMedix in a research report on Thursday, August 15th. Rodman & Renshaw assumed coverage on CorMedix in a research report on Monday, August 26th. They set a “buy” rating and a $13.00 price objective for the company. StockNews.com upgraded CorMedix to a “sell” rating in a research report on Friday, November 8th. Truist Financial upped their price objective on CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC raised their target price on shares of CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CorMedix currently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

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.