130,244 Shares in CorMedix Inc $CRMD Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in shares of CorMedix Inc (NASDAQ:CRMD) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 130,244 shares of the company’s stock, valued at approximately $1,515,000.

A number of other institutional investors have also recently modified their holdings of CRMD. Marshall Wace LLP grew its holdings in shares of CorMedix by 1,019.2% during the 2nd quarter. Marshall Wace LLP now owns 2,579,976 shares of the company’s stock worth $31,785,000 after purchasing an additional 2,349,451 shares in the last quarter. Geode Capital Management LLC lifted its position in CorMedix by 11.4% during the second quarter. Geode Capital Management LLC now owns 1,596,322 shares of the company’s stock worth $19,669,000 after purchasing an additional 163,403 shares during the period. Palisades Investment Partners LLC grew its stake in CorMedix by 0.3% during the third quarter. Palisades Investment Partners LLC now owns 564,106 shares of the company’s stock worth $6,561,000 after buying an additional 1,579 shares in the last quarter. Kennedy Capital Management LLC increased its holdings in CorMedix by 18.8% in the 2nd quarter. Kennedy Capital Management LLC now owns 480,178 shares of the company’s stock valued at $5,916,000 after buying an additional 75,947 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in CorMedix in the 2nd quarter valued at about $5,115,000. 34.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRMD has been the topic of several analyst reports. HC Wainwright reduced their price target on shares of CorMedix from $18.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. D. Boral Capital restated a “buy” rating and set a $14.00 target price on shares of CorMedix in a research note on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of CorMedix in a research note on Wednesday, January 21st. Zacks Research cut CorMedix from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Royal Bank Of Canada set a $13.00 price objective on CorMedix and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, CorMedix has an average rating of “Buy” and an average price target of $15.86.

Insider Activity

In other news, Director Steven W. Lefkowitz sold 40,000 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $11.88, for a total transaction of $475,200.00. Following the sale, the director directly owned 80,498 shares in the company, valued at approximately $956,316.24. The trade was a 33.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alan W. Dunton sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $13.00, for a total value of $260,000.00. Following the completion of the transaction, the director directly owned 40,250 shares of the company’s stock, valued at $523,250. This represents a 33.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 90,000 shares of company stock valued at $1,095,200. 3.10% of the stock is currently owned by corporate insiders.

CorMedix Stock Down 3.2%

Shares of NASDAQ:CRMD opened at $7.76 on Friday. The company has a fifty day moving average of $9.93 and a 200-day moving average of $11.10. The company has a market capitalization of $611.41 million, a PE ratio of 3.77 and a beta of 1.36. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.73 and a current ratio of 1.94. CorMedix Inc has a 52-week low of $5.60 and a 52-week high of $17.43.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings data on Wednesday, November 12th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.78. The company had revenue of $104.28 million for the quarter, compared to the consensus estimate of $65.63 million. CorMedix had a return on equity of 51.77% and a net margin of 75.83%.CorMedix’s revenue for the quarter was up 810.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. On average, equities analysts predict that CorMedix Inc will post -0.32 EPS for the current fiscal year.

CorMedix Profile

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.