Janney Montgomery Scott LLC Takes $81,000 Position in CorMedix Inc. (NASDAQ:CRMD)

Janney Montgomery Scott LLC acquired a new stake in CorMedix Inc. (NASDAQ:CRMD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,000 shares of the company’s stock, valued at approximately $81,000.

Other institutional investors have also modified their holdings of the company. FMR LLC grew its stake in shares of CorMedix by 54.3% in the third quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after buying an additional 1,625 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of CorMedix by 130.3% in the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock valued at $97,000 after buying an additional 6,761 shares in the last quarter. AlphaMark Advisors LLC acquired a new stake in shares of CorMedix in the third quarter valued at $97,000. The Manufacturers Life Insurance Company grew its stake in shares of CorMedix by 13.2% in the second quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock valued at $100,000 after buying an additional 2,700 shares in the last quarter. Finally, Palumbo Wealth Management LLC acquired a new stake in shares of CorMedix in the third quarter valued at $100,000. 34.18% of the stock is owned by institutional investors and hedge funds.

CorMedix Stock Performance

CorMedix stock opened at $10.44 on Friday. CorMedix Inc. has a fifty-two week low of $3.03 and a fifty-two week high of $13.85. The company has a market capitalization of $633.47 million, a P/E ratio of -12.89 and a beta of 1.57. The stock has a 50-day simple moving average of $10.01 and a 200-day simple moving average of $8.80.

Wall Street Analysts Forecast Growth

CRMD has been the subject of a number of research reports. StockNews.com raised CorMedix to a “sell” rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their target price on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. D. Boral Capital reissued a “buy” rating and set a $15.00 target price on shares of CorMedix in a research note on Wednesday, January 22nd. Needham & Company LLC boosted their target price on CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Truist Financial boosted their target price on CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.67.

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.