GSA Capital Partners LLP Has $96,000 Stake in CorMedix Inc. (NASDAQ:CRMD)

GSA Capital Partners LLP reduced its position in shares of CorMedix Inc. (NASDAQ:CRMD) by 71.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,825 shares of the company’s stock after selling 30,294 shares during the period. GSA Capital Partners LLP’s holdings in CorMedix were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CRMD. Principal Financial Group Inc. bought a new position in CorMedix during the 2nd quarter worth $44,000. Tidal Investments LLC acquired a new position in shares of CorMedix in the first quarter valued at about $60,000. Price T Rowe Associates Inc. MD increased its position in CorMedix by 21.2% during the first 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 during the period. AlphaMark Advisors LLC acquired a new stake in CorMedix in the 3rd quarter worth about $97,000. Finally, Palumbo Wealth Management LLC bought a new stake in CorMedix in the 3rd quarter valued at about $100,000. 34.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CRMD. StockNews.com raised shares of CorMedix to a “sell” rating in a report on Friday, November 8th. Truist Financial raised their price objective on CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Needham & Company LLC upped their target price on CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Rodman & Renshaw began coverage on CorMedix in a report on Monday, August 26th. They set a “buy” rating and a $13.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $9.00 price target on shares of CorMedix in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating and five have assigned 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 target price of $15.20.

CorMedix Stock Performance

CorMedix stock opened at $9.95 on Tuesday. CorMedix Inc. has a 52 week low of $2.89 and a 52 week high of $13.85. The stock has a market capitalization of $603.77 million, a P/E ratio of -12.30 and a beta of 1.58. The stock has a fifty day moving average of $9.93 and a 200-day moving average of $6.71.

CorMedix (NASDAQ:CRMD) last posted its earnings results on Wednesday, October 30th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $11.46 million during the quarter, compared to the consensus estimate of $11.00 million. During the same period last year, the company posted ($0.17) EPS. On average, research analysts forecast that CorMedix Inc. will post -0.46 earnings per share for the current year.

Insider Activity at CorMedix

In related news, EVP Elizabeth Hurlburt sold 140,027 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $11.18, for a total transaction of $1,565,501.86. Following the sale, the executive vice president now owns 45,397 shares in the company, valued at $507,538.46. The trade was a 75.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.20% of the stock is owned by insiders.

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.