Wingate Wealth Advisors Inc. Invests $1.02 Million in CorMedix Inc. (NASDAQ:CRMD)

Wingate Wealth Advisors Inc. purchased a new position in CorMedix Inc. (NASDAQ:CRMD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 126,015 shares of the company's stock, valued at approximately $1,021,000. CorMedix makes up about 1.0% of Wingate Wealth Advisors Inc.'s holdings, making the stock its 28th largest position. Wingate Wealth Advisors Inc. owned approximately 0.21% of CorMedix as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC increased its position in shares of CorMedix by 54.3% during the third quarter. FMR LLC now owns 4,618 shares of the company's stock valued at $37,000 after acquiring an additional 1,625 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of CorMedix during the fourth quarter valued at about $81,000. BNP Paribas Financial Markets increased its position in shares of CorMedix by 130.3% during 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 during the last quarter. AlphaMark Advisors LLC acquired a new stake in shares of CorMedix during the third quarter valued at about $97,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of CorMedix by 13.2% during 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. 34.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CRMD shares. Truist Financial lifted 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. Royal Bank of Canada lifted their price target on shares of CorMedix from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. D. Boral Capital reiterated a "buy" rating and set a $15.00 price target on shares of CorMedix in a research report on Wednesday, January 22nd. Needham & Company LLC lifted their price objective on shares of CorMedix from $10.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, StockNews.com upgraded shares of CorMedix to a "sell" rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $15.67.

CorMedix Stock Up 4.4 %

CorMedix stock traded up $0.44 during trading on Thursday, reaching $10.44. The stock had a trading volume of 517,270 shares, compared to its average volume of 1,233,413. CorMedix Inc. has a 52-week low of $3.03 and a 52-week high of $13.85. The business has a 50 day moving average price of $10.01 and a 200 day moving average price of $8.80. The stock has a market cap of $633.47 million, a PE ratio of -12.89 and a beta of 1.57.

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.