Barclays PLC Sells 84,122 Shares of CorMedix Inc. (NASDAQ:CRMD)

Barclays PLC reduced its stake in CorMedix Inc. (NASDAQ:CRMD) by 51.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,870 shares of the company’s stock after selling 84,122 shares during the period. Barclays PLC owned approximately 0.13% of CorMedix worth $629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CRMD. FMR LLC grew its stake in CorMedix by 54.3% during the third quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after buying an additional 1,625 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of CorMedix during the 2nd quarter worth $44,000. AlphaMark Advisors LLC bought a new stake in shares of CorMedix during the 3rd quarter worth $97,000. BNP Paribas Financial Markets boosted its stake in CorMedix by 130.3% in the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock valued at $97,000 after buying an additional 6,761 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in CorMedix by 13.2% in the second quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock valued at $100,000 after acquiring an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 34.18% of the company’s stock.

Insider Transactions at CorMedix

In other CorMedix news, EVP Elizabeth Hurlburt sold 140,027 shares of the firm’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 transaction, the executive vice president now directly owns 45,397 shares in the company, valued at approximately $507,538.46. This trade represents a 75.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.20% of the stock is currently owned by insiders.

CorMedix Price Performance

CorMedix stock opened at $8.10 on Thursday. The company has a market capitalization of $491.48 million, a PE ratio of -10.00 and a beta of 1.54. CorMedix Inc. has a 12-month low of $2.89 and a 12-month high of $13.85. The firm’s fifty day moving average is $9.91 and its 200 day moving average is $7.45.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CRMD shares. StockNews.com raised shares of CorMedix to a “sell” rating in a report on Friday, November 8th. Needham & Company LLC lifted their price target on CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their price objective on shares of CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Truist Financial increased their price objective on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.80.

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.