Barclays PLC Trims Stock Holdings in CorMedix Inc. (NASDAQ:CRMD)

Barclays PLC decreased its holdings in shares of CorMedix Inc. (NASDAQ:CRMD - Free Report) by 51.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,870 shares of the company's stock after selling 84,122 shares during the period. Barclays PLC owned about 0.13% of CorMedix worth $629,000 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 CRMD. Marshall Wace LLP increased its stake in shares of CorMedix by 109.6% in the second quarter. Marshall Wace LLP now owns 152,275 shares of the company's stock worth $659,000 after purchasing an additional 79,619 shares in the last quarter. State Street Corp increased its stake in CorMedix by 0.8% in the 3rd quarter. State Street Corp now owns 1,225,756 shares of the company's stock worth $9,904,000 after buying an additional 10,204 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in 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 period. FMR LLC lifted its position in shares of CorMedix by 54.3% in 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 in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of CorMedix by 150.7% in the second quarter. Commonwealth Equity Services LLC now owns 94,752 shares of the company's stock worth $410,000 after acquiring an additional 56,963 shares during the period. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CorMedix news, EVP Elizabeth Hurlburt sold 140,027 shares of the business's stock in a transaction on Thursday, November 14th. The shares were 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. The trade was a 75.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.20% of the stock is currently owned by insiders.

CorMedix Trading Up 1.5 %

CRMD traded up $0.12 during trading hours on Thursday, hitting $8.22. The company's stock had a trading volume of 694,675 shares, compared to its average volume of 750,659. The stock has a market cap of $498.76 million, a price-to-earnings ratio of -10.15 and a beta of 1.54. The business's 50-day moving average price is $9.83 and its 200-day moving average price is $7.46. CorMedix Inc. has a 12 month low of $2.89 and a 12 month high of $13.85.

CorMedix (NASDAQ:CRMD - Get Free Report) last posted its 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 business had revenue of $11.46 million during the quarter, compared to the consensus estimate of $11.00 million. During the same quarter last year, the firm earned ($0.17) earnings per share. On average, analysts forecast that CorMedix Inc. will post -0.46 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on CRMD shares. Needham & Company LLC lifted their target price on CorMedix from $10.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Truist Financial lifted their price objective 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. StockNews.com upgraded shares of CorMedix to a "sell" rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada raised 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. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, CorMedix currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.80.

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.