SG Americas Securities LLC Takes Position in CorMedix Inc. (NASDAQ:CRMD)

SG Americas Securities LLC purchased a new position in shares of CorMedix Inc. (NASDAQ:CRMD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 28,465 shares of the company’s stock, valued at approximately $107,000. SG Americas Securities LLC owned approximately 0.05% of CorMedix as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in CorMedix by 0.4% during the 1st quarter. BlackRock Inc. now owns 643,155 shares of the company’s stock worth $2,663,000 after purchasing an additional 2,337 shares during the last quarter. Two Sigma Advisers LP grew its stake in CorMedix by 6.8% during the 1st quarter. Two Sigma Advisers LP now owns 48,600 shares of the company’s stock valued at $201,000 after acquiring an additional 3,100 shares in the last quarter. Deutsche Bank AG raised its holdings in CorMedix by 18.2% in the 3rd quarter. Deutsche Bank AG now owns 28,627 shares of the company’s stock valued at $106,000 after acquiring an additional 4,401 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CorMedix by 4.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 98,690 shares of the company’s stock worth $541,000 after purchasing an additional 4,401 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of CorMedix by 30.9% during the 1st quarter. Bank of America Corp DE now owns 20,439 shares of the company’s stock worth $85,000 after purchasing an additional 4,830 shares during the last quarter. 34.18% of the stock is owned by institutional investors and hedge funds.

CorMedix Trading Down 2.6 %

NASDAQ CRMD opened at $5.28 on Friday. The stock has a fifty day simple moving average of $4.05 and a 200-day simple moving average of $3.63. The stock has a market cap of $289.40 million, a PE ratio of -5.74 and a beta of 1.86. CorMedix Inc. has a twelve month low of $2.57 and a twelve month high of $7.00.

CorMedix (NASDAQ:CRMD) last announced its earnings results on Tuesday, March 12th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.05). Research analysts predict that CorMedix Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of CorMedix in a report on Tuesday, April 9th. Royal Bank of Canada reduced their price target on CorMedix from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th. JMP Securities reissued a “market outperform” rating and set a $19.00 price target on shares of CorMedix in a research report on Tuesday, April 9th. Finally, Truist Financial cut their price objective on shares of CorMedix from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st.

Insider Buying and Selling

In other news, CEO Joseph Todisco purchased 13,561 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were bought at an average cost of $3.74 per share, for a total transaction of $50,718.14. Following the completion of the purchase, the chief executive officer now directly owns 352,839 shares of the company’s stock, valued at $1,319,617.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

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.