Sanctuary Advisors LLC Sells 12,649 Shares of CorMedix Inc. (NASDAQ:CRMD)

Sanctuary Advisors LLC lessened its stake in shares of CorMedix Inc. (NASDAQ:CRMD) by 39.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,244 shares of the company’s stock after selling 12,649 shares during the period. Sanctuary Advisors LLC’s holdings in CorMedix were worth $155,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. FMR LLC raised its position in CorMedix by 54.3% during the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after purchasing an additional 1,625 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in CorMedix in the second quarter worth about $44,000. AlphaMark Advisors LLC bought a new position in CorMedix during the 3rd quarter worth about $97,000. BNP Paribas Financial Markets increased its position in CorMedix by 130.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock valued at $97,000 after purchasing an additional 6,761 shares during the period. Finally, Palumbo Wealth Management LLC bought a new stake in shares of CorMedix in the 3rd quarter valued at about $100,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.

CorMedix Price Performance

CorMedix stock opened at $8.10 on Tuesday. CorMedix Inc. has a 1-year low of $2.89 and a 1-year high of $13.85. The business has a fifty day moving average price of $10.08 and a 200-day moving average price of $7.42. The stock has a market capitalization of $491.48 million, a price-to-earnings ratio of -10.00 and a beta of 1.54.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05. The business had revenue of $11.46 million during the quarter, compared to analyst estimates of $11.00 million. During the same period in the prior year, the business posted ($0.17) EPS. On average, equities research analysts anticipate that CorMedix Inc. will post -0.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CRMD shares. Needham & Company LLC increased 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 increased their target price on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada boosted their price target on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, StockNews.com raised CorMedix to a “sell” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.80.

Insiders Place Their Bets

In other CorMedix news, EVP Elizabeth Hurlburt sold 140,027 shares of the company’s 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 sale, the executive vice president now directly owns 45,397 shares of the company’s stock, valued at approximately $507,538.46. This represents a 75.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.20% of the stock is owned by insiders.

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.