Hussman Strategic Advisors Inc. Sells 105,000 Shares of CorMedix Inc $CRMD

Hussman Strategic Advisors Inc. reduced its stake in CorMedix Inc (NASDAQ:CRMD) by 33.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,000 shares of the company’s stock after selling 105,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in CorMedix were worth $2,442,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CorMedix by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company’s stock worth $222,000 after acquiring an additional 1,631 shares in the last quarter. Legal & General Group Plc boosted its stake in CorMedix by 17.1% during the second quarter. Legal & General Group Plc now owns 62,620 shares of the company’s stock worth $771,000 after acquiring an additional 9,155 shares in the last quarter. Rhumbline Advisers boosted its stake in CorMedix by 13.9% during the second quarter. Rhumbline Advisers now owns 92,905 shares of the company’s stock worth $1,145,000 after acquiring an additional 11,340 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in CorMedix by 22.2% during the second quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock worth $81,000 after acquiring an additional 1,190 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in CorMedix during the second quarter worth about $199,000. 34.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $14.00 price objective (up from $13.00) on shares of CorMedix in a research note on Tuesday. Zacks Research lowered shares of CorMedix from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. D. Boral Capital reissued a “buy” rating and set a $14.00 price objective on shares of CorMedix in a research note on Monday, April 27th. Weiss Ratings reissued a “hold (c)” rating on shares of CorMedix in a research note on Wednesday, January 21st. Finally, Citizens Jmp reissued a “market outperform” rating and set a $19.00 price objective on shares of CorMedix in a research note on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.00.

CorMedix Stock Up 2.6%

Shares of CorMedix stock opened at $7.79 on Friday. The company has a market cap of $615.80 million, a price-to-earnings ratio of 3.90 and a beta of 1.46. The company’s 50 day moving average is $6.98 and its 200 day moving average is $8.86. CorMedix Inc has a twelve month low of $6.13 and a twelve month high of $17.43. The company has a quick ratio of 1.94, a current ratio of 2.11 and a debt-to-equity ratio of 0.36.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.70). The company had revenue of $128.62 million for the quarter, compared to the consensus estimate of $127.02 million. CorMedix had a net margin of 52.31% and a return on equity of 52.30%. The firm’s revenue for the quarter was up 312.1% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS. Research analysts anticipate that CorMedix Inc will post 0.44 EPS for the current year.

CorMedix announced that its Board of Directors has approved a share buyback plan on Monday, February 2nd that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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.