Sanctuary Advisors LLC Takes Position in CorMedix Inc. (NASDAQ:CRMD)

Sanctuary Advisors LLC bought a new position in shares of CorMedix Inc. (NASDAQ:CRMD) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 31,893 shares of the company’s stock, valued at approximately $138,000. Sanctuary Advisors LLC owned 0.06% of CorMedix as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. acquired a new position in CorMedix during the 2nd quarter valued at about $44,000. Tidal Investments LLC bought a new position in shares of CorMedix in the first quarter valued at approximately $60,000. Price T Rowe Associates Inc. MD boosted its position in shares of CorMedix by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock valued at $63,000 after buying an additional 2,562 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in CorMedix by 13.2% during the second quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock worth $100,000 after buying an additional 2,700 shares in the last quarter. Finally, Rhumbline Advisers raised its position 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 last quarter. 34.18% of the stock is currently owned by institutional investors.

CorMedix Stock Up 1.7 %

Shares of NASDAQ:CRMD opened at $11.20 on Tuesday. The company has a 50-day moving average price of $7.30 and a two-hundred day moving average price of $5.74. CorMedix Inc. has a twelve month low of $2.57 and a twelve month high of $11.22. The firm has a market capitalization of $615.54 million, a PE ratio of -12.04 and a beta of 1.61.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.01. The business had revenue of $0.81 million during the quarter, compared to the consensus estimate of $0.75 million. During the same period last year, the business posted ($0.25) earnings per share. Analysts anticipate that CorMedix Inc. will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CRMD has been the topic of several analyst reports. Truist Financial cut their price target on shares of 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 target price on shares of CorMedix in a research note on Thursday, August 15th. Rodman & Renshaw initiated coverage on shares of CorMedix in a research note on Monday, August 26th. They set a “buy” rating and a $13.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of CorMedix in a research note on Thursday, August 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.