CorMedix Inc. (NASDAQ:CRMD) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its holdings in CorMedix Inc. (NASDAQ:CRMD) by 18.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,239 shares of the company’s stock after purchasing an additional 11,339 shares during the period. Rhumbline Advisers owned approximately 0.14% of CorMedix worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Steward Partners Investment Advisory LLC lifted its stake in CorMedix by 3.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 138,008 shares of the company’s stock worth $519,000 after acquiring an additional 4,195 shares in the last quarter. Vanguard Group Inc. lifted its stake in CorMedix by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 2,928,186 shares of the company’s stock worth $12,416,000 after acquiring an additional 102,851 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in CorMedix by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock worth $63,000 after acquiring an additional 2,562 shares in the last quarter. Tidal Investments LLC acquired a new position in CorMedix during the 1st quarter worth about $60,000. Finally, Bank of New York Mellon Corp lifted its stake in CorMedix by 19.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 158,901 shares of the company’s stock worth $688,000 after acquiring an additional 25,677 shares in the last quarter. Institutional investors and hedge funds own 34.18% of the company’s stock.

CorMedix Trading Down 2.2 %

NASDAQ:CRMD opened at $8.05 on Friday. The firm has a market capitalization of $442.42 million, a PE ratio of -8.66 and a beta of 1.59. The stock has a 50 day moving average of $5.56 and a 200-day moving average of $5.06. CorMedix Inc. has a 52 week low of $2.57 and a 52 week high of $8.43.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The company had revenue of $0.81 million for the quarter, compared to analyst estimates of $0.75 million. During the same quarter last year, the company posted ($0.25) EPS. As a group, analysts predict that CorMedix Inc. will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CRMD shares. Rodman & Renshaw started coverage on CorMedix in a research report on Monday, August 26th. They issued a “buy” rating and a $13.00 price target on the stock. Truist Financial dropped their price objective on CorMedix from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $9.00 price objective on shares of CorMedix in a report on Thursday, August 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of CorMedix in a report on Thursday, August 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, CorMedix has a consensus rating of “Buy” and a consensus target price of $12.60.

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.