AlphaMark Advisors LLC Buys 2,000 Shares of CorMedix Inc. (NASDAQ:CRMD)

AlphaMark Advisors LLC boosted its stake in CorMedix Inc. (NASDAQ:CRMD) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,000 shares of the company’s stock after acquiring an additional 2,000 shares during the period. AlphaMark Advisors LLC’s holdings in CorMedix were worth $113,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRMD. FMR LLC increased its stake in shares of CorMedix by 54.3% during the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after purchasing an additional 1,625 shares during the last quarter. The Manufacturers Life Insurance Company grew 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 purchasing an additional 2,700 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in CorMedix by 10.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 52,184 shares of the company’s stock worth $422,000 after buying an additional 4,935 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of CorMedix by 130.3% in the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock valued at $97,000 after buying an additional 6,761 shares during the period. Finally, Sigma Planning Corp lifted its position in shares of CorMedix by 23.8% during the 3rd quarter. Sigma Planning Corp now owns 39,947 shares of the company’s stock valued at $323,000 after buying an additional 7,679 shares during the last quarter. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

CorMedix Trading Up 1.0 %

CRMD stock opened at $12.42 on Friday. The firm has a 50 day moving average of $9.86 and a 200-day moving average of $8.26. The firm has a market capitalization of $753.65 million, a P/E ratio of -15.33 and a beta of 1.56. CorMedix Inc. has a 12 month low of $2.89 and a 12 month high of $13.85.

CorMedix (NASDAQ:CRMD) last posted its earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.05. The firm had revenue of $11.46 million during the quarter, compared to analysts’ expectations of $11.00 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. Sell-side analysts predict that CorMedix Inc. will post -0.32 EPS for the current year.

Insider Buying and Selling

In related news, EVP Elizabeth Hurlburt sold 140,027 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $507,538.46. This represents a 75.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on CRMD. Royal Bank of Canada lifted their price objective on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Truist Financial lifted their target price on shares of CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. D. Boral Capital restated a “buy” rating and set a $15.00 price target on shares of CorMedix in a research note on Wednesday. StockNews.com raised shares of CorMedix to a “sell” rating in a report on Friday, November 8th. Finally, Needham & Company LLC boosted their target price on shares of CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, CorMedix presently has an average rating of “Moderate Buy” and a consensus target price of $15.67.

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.