Private Advisor Group LLC Has $131,000 Stock Holdings in CorMedix Inc. (NASDAQ:CRMD)

Private Advisor Group LLC cut its holdings in CorMedix Inc. (NASDAQ:CRMD) by 25.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,224 shares of the company’s stock after selling 5,436 shares during the quarter. Private Advisor Group LLC’s holdings in CorMedix were worth $131,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its stake in shares of CorMedix by 1,398.2% in the fourth quarter. New York State Common Retirement Fund now owns 167,249 shares of the company’s stock worth $1,355,000 after buying an additional 156,086 shares during the last quarter. Palumbo Wealth Management LLC lifted its stake in shares of CorMedix by 145.2% in the fourth quarter. Palumbo Wealth Management LLC now owns 30,326 shares of the company’s stock worth $246,000 after buying an additional 17,960 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of CorMedix by 8.6% in the fourth quarter. Rhumbline Advisers now owns 75,747 shares of the company’s stock worth $614,000 after buying an additional 6,028 shares during the last quarter. Legato Capital Management LLC acquired a new stake in shares of CorMedix in the fourth quarter worth $97,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of CorMedix in the fourth quarter worth $1,021,000. 34.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CRMD shares. Leerink Partners started coverage on shares of CorMedix in a research note on Friday. They issued an “outperform” rating and a $18.00 price objective for the company. Royal Bank of Canada boosted their price objective on shares of 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 reaffirmed a “buy” rating and set a $15.00 target price on shares of CorMedix in a research report on Wednesday. Finally, StockNews.com raised shares of CorMedix to a “sell” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

CorMedix Trading Up 12.9 %

Shares of CRMD stock opened at $10.71 on Friday. CorMedix Inc. has a 1 year low of $3.03 and a 1 year high of $13.85. The firm’s fifty day simple moving average is $10.54 and its 200 day simple moving average is $9.48. The firm has a market capitalization of $649.85 million, a P/E ratio of -13.22 and a beta of 1.53.

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.