Wellington Management Group LLP Purchases 102,527 Shares of CorMedix Inc. (NASDAQ:CRMD)

Wellington Management Group LLP grew its stake in CorMedix Inc. (NASDAQ:CRMD - Free Report) by 130.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,948 shares of the company's stock after buying an additional 102,527 shares during the period. Wellington Management Group LLP owned approximately 0.30% of CorMedix worth $1,462,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its position in CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company's stock worth $37,000 after buying an additional 1,625 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of CorMedix during the second quarter worth approximately $44,000. AlphaMark Advisors LLC bought a new stake in shares of CorMedix in the 3rd quarter worth approximately $97,000. BNP Paribas Financial Markets boosted its stake in shares of CorMedix by 130.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company's stock valued at $97,000 after purchasing an additional 6,761 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of CorMedix by 13.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company's stock valued at $100,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors own 34.18% of the company's stock.

Insider Buying and Selling at CorMedix

In other CorMedix news, EVP Elizabeth Hurlburt sold 140,027 shares of CorMedix stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $11.18, for a total transaction of $1,565,501.86. Following the sale, the executive vice president now directly owns 45,397 shares of the company's stock, valued at approximately $507,538.46. The trade was a 75.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.20% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on CRMD shares. Royal Bank of Canada boosted their price target on shares of CorMedix from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Thursday. Truist Financial boosted their target price on CorMedix from $12.00 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Rodman & Renshaw assumed coverage on CorMedix in a research report on Monday, August 26th. They set a "buy" rating and a $13.00 price target on the stock. StockNews.com raised CorMedix to a "sell" rating in a research note on Friday, November 8th. Finally, Needham & Company LLC increased their price objective on CorMedix from $10.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, CorMedix has a consensus rating of "Moderate Buy" and a consensus target price of $15.80.

CorMedix Price Performance

NASDAQ:CRMD traded up $0.75 during mid-day trading on Thursday, reaching $8.87. 1,140,598 shares of the company's stock traded hands, compared to its average volume of 747,319. The company has a 50 day moving average price of $10.40 and a 200-day moving average price of $7.22. The firm has a market capitalization of $538.20 million, a price-to-earnings ratio of -10.95 and a beta of 1.54. 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 (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.05. The business had revenue of $11.46 million for the quarter, compared to analysts' expectations of $11.00 million. During the same period last year, the firm posted ($0.17) earnings per share. As a group, analysts forecast that CorMedix Inc. will post -0.46 EPS for the current year.

About CorMedix

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.