51,600 Shares in CorMedix Inc. (NASDAQ:CRMD) Bought by Advisory Services Network LLC

Advisory Services Network LLC acquired a new position in shares of CorMedix Inc. (NASDAQ:CRMD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 51,600 shares of the company's stock, valued at approximately $418,000. Advisory Services Network LLC owned 0.09% of CorMedix as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CRMD. FMR LLC increased its stake in CorMedix by 54.3% during the 3rd quarter. FMR LLC now owns 4,618 shares of the company's stock valued at $37,000 after buying an additional 1,625 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of CorMedix in the 4th quarter worth approximately $81,000. Aigen Investment Management LP acquired a new stake in shares of CorMedix during the 4th quarter valued at $94,000. Legato Capital Management LLC bought a new stake in shares of CorMedix during the 4th quarter worth $97,000. Finally, BNP Paribas Financial Markets raised 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 worth $97,000 after purchasing an additional 6,761 shares during the period. 34.18% of the stock is currently owned by institutional investors and hedge funds.

CorMedix Stock Performance

Shares of CorMedix stock traded up $0.36 during midday trading on Tuesday, reaching $8.50. 1,916,299 shares of the company's stock traded hands, compared to its average volume of 1,025,715. The company has a market cap of $554.05 million, a price-to-earnings ratio of -10.49 and a beta of 1.57. CorMedix Inc. has a 52 week low of $3.61 and a 52 week high of $13.85. The company's 50 day simple moving average is $8.85 and its 200 day simple moving average is $9.81.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. The company had revenue of $30.00 million during the quarter, compared to analyst estimates of $27.46 million. The firm's quarterly revenue was up 29900.0% compared to the same quarter last year. As a group, equities research analysts predict that CorMedix Inc. will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRMD shares. D. Boral Capital reaffirmed a "buy" rating and set a $15.00 price objective on shares of CorMedix in a research note on Tuesday, April 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $12.00 target price on shares of CorMedix in a research report on Wednesday, April 9th. Leerink Partnrs raised CorMedix to a "strong-buy" rating in a research report on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $12.00 target price on shares of CorMedix in a research note on Wednesday, March 26th. Finally, StockNews.com upgraded shares of CorMedix from a "sell" rating to a "hold" rating in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $14.50.

CorMedix 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.