Intech Investment Management LLC Purchases Shares of 14,695 CorMedix Inc. (NASDAQ:CRMD)

Intech Investment Management LLC purchased a new stake in shares of CorMedix Inc. (NASDAQ:CRMD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,695 shares of the company’s stock, valued at approximately $119,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRMD. Principal Financial Group Inc. bought a new position in shares of CorMedix during the second quarter valued at about $44,000. Tidal Investments LLC bought a new position in shares of CorMedix during the first quarter valued at about $60,000. Price T Rowe Associates Inc. MD raised its stake in shares of CorMedix by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock valued at $63,000 after acquiring an additional 2,562 shares during the last quarter. AlphaMark Advisors LLC bought a new position in shares of CorMedix during the third quarter valued at about $97,000. Finally, Palumbo Wealth Management LLC bought a new position in shares of CorMedix during the third quarter valued at about $100,000. 34.18% of the stock is owned by institutional investors.

Insider Buying and Selling at CorMedix

In other CorMedix news, EVP Elizabeth Hurlburt sold 140,027 shares of CorMedix stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.18, for a total value of $1,565,501.86. Following the completion of the transaction, the executive vice president now directly owns 45,397 shares of the company’s stock, valued at $507,538.46. This trade represents a 75.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 5.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

CorMedix Stock Performance

Shares of CRMD opened at $9.50 on Friday. The stock has a market cap of $576.46 million, a PE ratio of -11.73 and a beta of 1.54. The firm’s 50-day simple moving average is $10.40 and its two-hundred day simple moving average is $7.02. CorMedix Inc. has a fifty-two week low of $2.89 and a fifty-two week high of $13.85.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $11.46 million during the quarter, compared to the consensus estimate of $11.00 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Equities research analysts predict that CorMedix Inc. will post -0.46 EPS for the current year.

About CorMedix

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.