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

Y Intercept Hong Kong Ltd purchased a new stake in CorMedix Inc (NASDAQ:CRMD) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 130,244 shares of the company’s stock, valued at approximately $1,515,000. Y Intercept Hong Kong Ltd owned approximately 0.17% of CorMedix as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new stake in shares of CorMedix in the 2nd quarter valued at approximately $42,000. USA Financial Formulas acquired a new stake in CorMedix in the second quarter valued at $55,000. State of Alaska Department of Revenue bought a new position in shares of CorMedix in the 3rd quarter valued at about $54,000. Orion Capital Management LLC acquired a new position in shares of CorMedix during the 3rd quarter worth about $70,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of CorMedix by 22.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock valued at $81,000 after purchasing an additional 1,190 shares during the period. Institutional investors and hedge funds own 34.18% of the company’s stock.

CorMedix Price Performance

Shares of NASDAQ CRMD opened at $7.76 on Friday. The firm has a market cap of $611.41 million, a P/E ratio of 3.77 and a beta of 1.36. The business’s 50 day moving average is $9.93 and its 200-day moving average is $11.10. The company has a current ratio of 1.94, a quick ratio of 1.73 and a debt-to-equity ratio of 0.39. CorMedix Inc has a 1-year low of $5.60 and a 1-year high of $17.43.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Wednesday, November 12th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.78. The business had revenue of $104.28 million during 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%.The firm’s quarterly revenue was up 810.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. Equities research analysts predict that CorMedix Inc will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRMD. Wall Street Zen cut CorMedix from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Needham & Company LLC reduced their target price on CorMedix from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Royal Bank Of Canada set a $13.00 target price on CorMedix and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CorMedix in a report on Wednesday, January 21st. Finally, Truist Financial set a $16.00 price objective on shares of CorMedix in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, CorMedix has a consensus rating of “Buy” and a consensus target price of $15.86.

Insider Activity at CorMedix

In related news, CEO Joseph Todisco sold 30,000 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $12.00, for a total transaction of $360,000.00. Following the transaction, the chief executive officer directly owned 509,496 shares of the company’s stock, valued at approximately $6,113,952. This trade represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan W. Dunton sold 20,000 shares of CorMedix stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $13.00, for a total transaction of $260,000.00. Following the completion of the sale, the director owned 40,250 shares of the company’s stock, valued at $523,250. This trade 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 worth $1,095,200. Corporate insiders own 3.10% of the company’s stock.

CorMedix Company 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.