Parallax Volatility Advisers L.P. Invests $648,000 in CorMedix Inc. (NASDAQ:CRMD)

Parallax Volatility Advisers L.P. purchased a new position in shares of CorMedix Inc. (NASDAQ:CRMD - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 80,143 shares of the company's stock, valued at approximately $648,000. Parallax Volatility Advisers L.P. owned 0.13% of CorMedix at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in CorMedix by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 2,928,186 shares of the company's stock worth $12,416,000 after purchasing an additional 102,851 shares during the period. Price T Rowe Associates Inc. MD raised its position in CorMedix by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company's stock valued at $63,000 after buying an additional 2,562 shares during the last quarter. Tidal Investments LLC acquired a new position in CorMedix during the 1st quarter worth approximately $60,000. Bank of New York Mellon Corp grew its stake in shares of CorMedix by 19.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 158,901 shares of the company's stock worth $688,000 after acquiring an additional 25,677 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of CorMedix in the second quarter valued at approximately $44,000. Institutional investors own 34.18% of the company's stock.

CorMedix Price Performance

NASDAQ:CRMD traded down $0.20 during mid-day trading on Friday, reaching $9.50. 565,154 shares of the company's stock were exchanged, compared to its average volume of 939,932. CorMedix Inc. has a one year low of $2.89 and a one year high of $13.85. The business's fifty day simple moving average is $10.40 and its two-hundred day simple moving average is $7.01.

CorMedix (NASDAQ:CRMD - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.05. The business had revenue of $11.46 million for the quarter, compared to the consensus estimate of $11.00 million. During the same period in the prior year, the business posted ($0.17) earnings per share. As a group, sell-side analysts predict that CorMedix Inc. will post -0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRMD. Needham & Company LLC raised their price target on CorMedix from $10.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $9.00 price objective on shares of CorMedix in a research report on Thursday, August 15th. Rodman & Renshaw started coverage on shares of CorMedix in a research note on Monday, August 26th. They set a "buy" rating and a $13.00 target price for the company. Truist Financial upped their price target on shares of CorMedix from $12.00 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of CorMedix to a "sell" rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $15.20.

Insider Buying and Selling at CorMedix

In other CorMedix news, EVP Elizabeth Hurlburt sold 140,027 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $11.18, for a total value of $1,565,501.86. Following the transaction, the executive vice president now directly owns 45,397 shares of the company's stock, valued at $507,538.46. This trade represents a 75.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.20% of the company's stock.

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.