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

Barclays PLC trimmed its holdings in CorMedix Inc. (NASDAQ:CRMD) by 51.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in CorMedix by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,284,464 shares of the company’s stock worth $10,380,000 after acquiring an additional 13,171 shares during the last quarter. Wellington Management Group LLP raised its holdings in CorMedix by 130.7% during the 3rd quarter. Wellington Management Group LLP now owns 180,948 shares of the company’s stock valued at $1,462,000 after buying an additional 102,527 shares during the last quarter. State Street Corp boosted its holdings in shares of CorMedix by 0.8% during the third quarter. State Street Corp now owns 1,225,756 shares of the company’s stock worth $9,904,000 after purchasing an additional 10,204 shares during the period. Parallax Volatility Advisers L.P. purchased a new stake in CorMedix in the 3rd quarter worth approximately $648,000. Finally, BNP Paribas Financial Markets boosted its holdings 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 acquiring an additional 6,761 shares in the last quarter. 34.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CorMedix

In other news, EVP Elizabeth Hurlburt sold 140,027 shares of the stock in a transaction that occurred 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 owns 45,397 shares in the company, valued at $507,538.46. This trade represents a 75.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.20% of the stock is currently owned by corporate insiders.

CorMedix Trading Up 7.5 %

CRMD opened at $12.79 on Friday. The firm has a market cap of $776.10 million, a price-to-earnings ratio of -15.79 and a beta of 1.56. The stock has a fifty day moving average price of $9.75 and a 200-day moving average price of $7.89. CorMedix Inc. has a 12 month low of $2.89 and a 12 month high of $13.85.

CorMedix (NASDAQ:CRMD) last released 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 analyst estimates of $11.00 million. During the same quarter last year, the business earned ($0.17) earnings per share. On average, equities research analysts forecast that CorMedix Inc. will post -0.46 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRMD. StockNews.com upgraded CorMedix to a “sell” rating in a research report on Friday, November 8th. Truist Financial raised their price target on shares of CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC boosted their target price on CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada boosted their target price on shares of CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, D. Boral Capital assumed coverage on shares of CorMedix in a research report on Monday. They issued a “buy” rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CorMedix currently has an average rating of “Moderate Buy” and a consensus price target of $15.67.

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.