Marshall Wace LLP Grows Holdings in CorMedix Inc. (NASDAQ:CRMD)

Marshall Wace LLP lifted its position in shares of CorMedix Inc. (NASDAQ:CRMD) by 109.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152,275 shares of the company’s stock after buying an additional 79,619 shares during the quarter. Marshall Wace LLP owned approximately 0.28% of CorMedix worth $659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. purchased a new position in shares of CorMedix during the 2nd quarter worth $44,000. Tidal Investments LLC purchased a new position in CorMedix during the first quarter worth about $60,000. Price T Rowe Associates Inc. MD boosted its stake in CorMedix by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock worth $63,000 after buying an additional 2,562 shares during the last quarter. Rhumbline Advisers grew its holdings in CorMedix by 18.0% in the 2nd quarter. Rhumbline Advisers now owns 74,239 shares of the company’s stock valued at $321,000 after buying an additional 11,339 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in shares of CorMedix by 150.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 94,752 shares of the company’s stock valued at $410,000 after acquiring an additional 56,963 shares during the last quarter. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

CorMedix Price Performance

NASDAQ:CRMD opened at $9.67 on Wednesday. CorMedix Inc. has a 12 month low of $2.57 and a 12 month high of $9.79. The business’s 50-day moving average is $6.18 and its two-hundred day moving average is $5.35. The firm has a market capitalization of $531.45 million, a PE ratio of -10.40 and a beta of 1.61.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate 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 period last year, the firm posted ($0.25) earnings per share. Equities analysts anticipate that CorMedix Inc. will post -0.58 EPS for the current year.

CorMedix 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.