AlphaQuest LLC Acquires New Holdings in CorMedix Inc. (NASDAQ:CRMD)

AlphaQuest LLC acquired a new stake in shares of CorMedix Inc. (NASDAQ:CRMD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,139 shares of the company’s stock, valued at approximately $115,000.

Several other hedge funds also recently bought and sold shares of CRMD. Intech Investment Management LLC purchased a new position in CorMedix during the third quarter valued at approximately $119,000. FMR LLC grew its stake in CorMedix by 54.3% during the third quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after acquiring an additional 1,625 shares in the last quarter. BNP Paribas Financial Markets grew its stake in CorMedix by 130.3% during the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock valued at $97,000 after acquiring an additional 6,761 shares in the last quarter. Parallax Volatility Advisers L.P. purchased a new position in CorMedix during the third quarter valued at approximately $648,000. Finally, State Street Corp grew its stake in CorMedix by 0.8% during the third quarter. State Street Corp now owns 1,225,756 shares of the company’s stock valued at $9,904,000 after acquiring an additional 10,204 shares in the last quarter. Hedge funds and other institutional investors own 34.18% of the company’s stock.

CorMedix Stock Performance

Shares of CorMedix stock opened at $10.43 on Wednesday. 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 $632.86 million, a price-to-earnings ratio of -12.88 and a beta of 1.53. The company has a fifty day moving average of $10.85 and a 200-day moving average of $9.77.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Leerink Partnrs raised shares of CorMedix to a “strong-buy” rating in a research note on Friday, March 7th. Leerink Partners assumed coverage on shares of CorMedix in a research note on Friday, March 7th. They issued an “outperform” rating and a $18.00 price target for the company. Finally, D. Boral Capital reissued a “buy” rating and issued a $15.00 price target on shares of CorMedix in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

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.