Vanguard Group Inc. Buys 102,851 Shares of CorMedix Inc. (NASDAQ:CRMD)

Vanguard Group Inc. boosted its stake in shares of CorMedix Inc. (NASDAQ:CRMD) by 3.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,928,186 shares of the company’s stock after acquiring an additional 102,851 shares during the period. Vanguard Group Inc. owned 0.05% of CorMedix worth $12,416,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC increased its stake in CorMedix by 3.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 138,008 shares of the company’s stock worth $519,000 after acquiring an additional 4,195 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in CorMedix by 14.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 81,834 shares of the company’s stock worth $308,000 after acquiring an additional 10,362 shares during the period. Jump Financial LLC bought a new position in CorMedix during the 4th quarter worth $266,000. Raymond James & Associates increased its stake in CorMedix by 15.7% during the 4th quarter. Raymond James & Associates now owns 42,827 shares of the company’s stock worth $161,000 after acquiring an additional 5,800 shares during the period. Finally, Advisor OS LLC increased its stake in CorMedix by 20.0% during the 4th quarter. Advisor OS LLC now owns 30,000 shares of the company’s stock worth $113,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 34.18% of the company’s stock.

CorMedix Stock Performance

Shares of CRMD opened at $3.78 on Wednesday. CorMedix Inc. has a 52-week low of $2.57 and a 52-week high of $7.00. The business’s fifty day moving average is $4.52 and its 200-day moving average is $4.42. The firm has a market cap of $207.75 million, a price-to-earnings ratio of -4.06 and a beta of 1.60.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of CorMedix in a research note on Wednesday, June 19th. Truist Financial decreased their price target on CorMedix from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th.

CorMedix 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.