Cubist Systematic Strategies LLC Purchases New Stake in CorMedix Inc. (NASDAQ:CRMD)

Cubist Systematic Strategies LLC purchased a new stake in CorMedix Inc. (NASDAQ:CRMD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 72,354 shares of the company’s stock, valued at approximately $586,000. Cubist Systematic Strategies LLC owned 0.12% of CorMedix at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in CorMedix in the 4th quarter valued at $81,000. Captrust Financial Advisors bought a new stake in CorMedix in the 4th quarter valued at $90,000. Aigen Investment Management LP bought a new stake in CorMedix in the 4th quarter valued at $94,000. XTX Topco Ltd bought a new stake in CorMedix in the 4th quarter valued at $95,000. Finally, Legato Capital Management LLC bought a new stake in CorMedix in the 4th quarter valued at $97,000. Institutional investors own 34.18% of the company’s stock.

CorMedix Stock Performance

Shares of NASDAQ CRMD opened at $11.69 on Friday. CorMedix Inc. has a 52 week low of $3.61 and a 52 week high of $13.85. The stock has a market capitalization of $792.87 million, a P/E ratio of -14.43 and a beta of 1.54. The stock’s fifty day moving average is $8.84 and its 200 day moving average is $9.74.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The company had revenue of $39.08 million during the quarter, compared to the consensus estimate of $38.90 million. During the same quarter in the previous year, the business posted ($0.25) EPS. Equities research analysts forecast that CorMedix Inc. will post -0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Needham & Company LLC increased their price target on CorMedix from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. D. Boral Capital reiterated a “buy” rating and set a $15.00 price objective on shares of CorMedix in a research report on Tuesday, May 6th. StockNews.com upgraded CorMedix from a “sell” rating to a “hold” rating in a research report on Tuesday, April 1st. Leerink Partnrs upgraded CorMedix to a “strong-buy” rating in a research report on Friday, March 7th. Finally, Leerink Partners assumed coverage on CorMedix in a research report on Friday, March 7th. They set an “outperform” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $15.00.

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.