Janney Montgomery Scott LLC Makes New $81,000 Investment in CorMedix Inc. (NASDAQ:CRMD)

Janney Montgomery Scott LLC bought a new position in shares of CorMedix Inc. (NASDAQ:CRMD) during the 4th quarter, Holdings Channel.com reports. The fund bought 10,000 shares of the company’s stock, valued at approximately $81,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in CorMedix by 44.5% during the 4th quarter. SG Americas Securities LLC now owns 27,205 shares of the company’s stock worth $220,000 after purchasing an additional 8,372 shares during the period. JPMorgan Chase & Co. increased its position in CorMedix by 685.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company’s stock worth $1,568,000 after purchasing an additional 169,397 shares during the period. Geode Capital Management LLC increased its position in CorMedix by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,284,464 shares of the company’s stock worth $10,380,000 after purchasing an additional 13,171 shares during the period. Wellington Management Group LLP increased its position in CorMedix by 130.7% during the 3rd quarter. Wellington Management Group LLP now owns 180,948 shares of the company’s stock worth $1,462,000 after purchasing an additional 102,527 shares during the period. Finally, State Street Corp grew its holdings in shares of CorMedix by 0.8% in the 3rd quarter. State Street Corp now owns 1,225,756 shares of the company’s stock worth $9,904,000 after acquiring an additional 10,204 shares during the period. Institutional investors and hedge funds own 34.18% of the company’s stock.

CorMedix Stock Up 4.4 %

Shares of CorMedix stock opened at $10.44 on Friday. CorMedix Inc. has a fifty-two week low of $3.03 and a fifty-two week high of $13.85. The firm has a market cap of $633.47 million, a PE ratio of -12.89 and a beta of 1.57. The business’s fifty day moving average is $10.01 and its two-hundred day moving average is $8.80.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. D. Boral Capital restated a “buy” rating and issued a $15.00 price target on shares of CorMedix in a report on Wednesday, January 22nd. Needham & Company LLC upped their price target on CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada upped their price target on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. StockNews.com raised CorMedix to a “sell” rating in a research note on Friday, November 8th. Finally, Truist Financial upped their target price on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

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.