Voya Investment Management LLC Reduces Stock Holdings in CorMedix Inc. (NASDAQ:CRMD)

Voya Investment Management LLC lowered its stake in shares of CorMedix Inc. (NASDAQ:CRMD) by 97.6% during the fourth quarter, Holdings Channel reports. The fund owned 17,658 shares of the company’s stock after selling 721,401 shares during the quarter. Voya Investment Management LLC’s holdings in CorMedix were worth $143,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CRMD. JPMorgan Chase & Co. lifted its stake in shares of CorMedix by 685.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company’s stock valued at $1,568,000 after purchasing an additional 169,397 shares in the last quarter. SG Americas Securities LLC increased its holdings 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 last quarter. Janney Montgomery Scott LLC purchased a new stake in CorMedix during the 4th quarter worth approximately $81,000. AlphaMark Advisors LLC increased its holdings in CorMedix by 16.7% during the 4th quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company’s stock worth $113,000 after purchasing an additional 2,000 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of CorMedix in the 4th quarter worth approximately $104,000. Institutional investors and hedge funds own 34.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CRMD shares. Needham & Company LLC boosted their price objective on CorMedix from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. D. Boral Capital reiterated a “buy” rating and set a $15.00 price target on shares of CorMedix in a research report on Tuesday, May 6th. Leerink Partnrs upgraded CorMedix to a “strong-buy” rating in a report on Friday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 target price on shares of CorMedix in a research report on Wednesday, March 26th. Finally, StockNews.com raised CorMedix from a “sell” rating to a “hold” rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $15.00.

CorMedix Trading Down 0.1%

Shares of CRMD opened at $11.62 on Thursday. CorMedix Inc. has a 1 year low of $3.61 and a 1 year high of $13.85. The stock has a 50 day simple moving average of $8.81 and a 200-day simple moving average of $9.74. The stock has a market cap of $788.13 million, a PE ratio of -14.35 and a beta of 1.54.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $39.08 million for the quarter, compared to the consensus estimate of $38.90 million. During the same quarter last year, the company earned ($0.25) earnings per share. On average, sell-side analysts forecast that CorMedix Inc. will post -0.32 EPS for the current fiscal year.

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.