BNP Paribas Financial Markets Has $97,000 Stake in CorMedix Inc. (NASDAQ:CRMD)

BNP Paribas Financial Markets raised its position in CorMedix Inc. (NASDAQ:CRMD) by 130.3% in the third quarter, HoldingsChannel.com reports. The fund owned 11,950 shares of the company’s stock after purchasing an additional 6,761 shares during the quarter. BNP Paribas Financial Markets’ holdings in CorMedix were worth $97,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of CRMD. Bank of New York Mellon Corp raised its holdings in shares of CorMedix by 19.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 158,901 shares of the company’s stock valued at $688,000 after purchasing an additional 25,677 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of CorMedix in the second quarter valued at approximately $44,000. Commonwealth Equity Services LLC lifted its position in shares of CorMedix by 150.7% in the second quarter. Commonwealth Equity Services LLC now owns 94,752 shares of the company’s stock valued at $410,000 after buying an additional 56,963 shares during the last quarter. Rhumbline Advisers lifted its position in shares of CorMedix by 18.0% in the second quarter. Rhumbline Advisers now owns 74,239 shares of the company’s stock valued at $321,000 after buying an additional 11,339 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of CorMedix by 109.6% during the 2nd quarter. Marshall Wace LLP now owns 152,275 shares of the company’s stock worth $659,000 after acquiring an additional 79,619 shares during the last quarter. Institutional investors own 34.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRMD. Rodman & Renshaw initiated coverage on CorMedix in a report on Monday, August 26th. They set a “buy” rating and a $13.00 price target for the company. Truist Financial raised 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. StockNews.com raised shares of CorMedix to a “sell” rating in a report on Friday, November 8th. Finally, Needham & Company LLC raised their price objective on shares of CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

CorMedix Stock Performance

CRMD opened at $8.12 on Thursday. The stock has a fifty day moving average of $10.40 and a 200-day moving average of $7.22. The company has a market capitalization of $492.70 million, a P/E ratio of -10.02 and a beta of 1.54. CorMedix Inc. has a fifty-two week low of $2.89 and a fifty-two week high of $13.85.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates 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. On average, equities research analysts predict that CorMedix Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Activity at CorMedix

In related news, EVP Elizabeth Hurlburt sold 140,027 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was 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 owns 45,397 shares in the company, valued at approximately $507,538.46. This trade represents a 75.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is currently owned by corporate insiders.

CorMedix Company 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.