CorMedix Inc. (NASDAQ:CRMD) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in CorMedix Inc. (NASDAQ:CRMD - Free Report) by 40.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 273,218 shares of the company's stock after acquiring an additional 79,110 shares during the period. JPMorgan Chase & Co. owned about 0.45% of CorMedix worth $2,213,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CRMD. FMR LLC raised its stake in shares of CorMedix by 54.3% in the 3rd 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 period. Janney Montgomery Scott LLC purchased a new stake in shares of CorMedix in the 4th quarter valued at approximately $81,000. Aigen Investment Management LP purchased a new stake in shares of CorMedix in the 4th quarter valued at approximately $94,000. Legato Capital Management LLC purchased a new stake in shares of CorMedix in the 4th quarter valued at approximately $97,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of CorMedix in the 4th quarter valued at approximately $104,000. 34.18% of the stock is owned by hedge funds and other institutional investors.

CorMedix Stock Performance

Shares of NASDAQ:CRMD traded up $0.06 during trading hours on Tuesday, reaching $9.12. The stock had a trading volume of 664,844 shares, compared to its average volume of 1,036,773. CorMedix Inc. has a 1 year low of $3.61 and a 1 year high of $13.85. The firm's 50 day moving average is $8.67 and its 200-day moving average is $9.78. The stock has a market capitalization of $594.46 million, a price-to-earnings ratio of -11.26 and a beta of 1.57.

CorMedix (NASDAQ:CRMD - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business's revenue for the quarter was up 29900.0% on a year-over-year basis. Analysts forecast that CorMedix Inc. will post -0.32 EPS for the current year.

Analyst Upgrades and Downgrades

CRMD has been the topic of several recent research reports. 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. Needham & Company LLC reaffirmed a "buy" rating and set a $12.00 target price on shares of CorMedix in a research note on Wednesday, April 9th. Leerink Partnrs raised shares of CorMedix to a "strong-buy" rating in a research note on Friday, March 7th. Leerink Partners initiated coverage on shares of CorMedix in a research note on Friday, March 7th. They set an "outperform" rating and a $18.00 target price on the stock. Finally, StockNews.com raised shares of CorMedix from a "sell" rating to a "hold" rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, CorMedix currently has an average rating of "Buy" and a consensus 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.