ExodusPoint Capital Management LP Buys Shares of 15,298 CorMedix Inc. (NASDAQ:CRMD)

ExodusPoint Capital Management LP purchased a new stake in CorMedix Inc. (NASDAQ:CRMD – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 15,298 shares of the company’s stock, valued at approximately $43,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new position in shares of CorMedix in the third quarter valued at approximately $129,000. Pinnacle Wealth Management Advisory Group LLC acquired a new position in shares of CorMedix in the third quarter valued at approximately $28,000. Pinnacle Associates Ltd. acquired a new position in shares of CorMedix in the third quarter valued at approximately $28,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of CorMedix by 14.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 48,407 shares of the company’s stock valued at $137,000 after buying an additional 6,037 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of CorMedix by 82.1% in the third quarter. Private Advisor Group LLC now owns 37,710 shares of the company’s stock valued at $107,000 after buying an additional 17,000 shares during the period. Institutional investors and hedge funds own 26.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JMP Securities upped their price target on shares of CorMedix from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday, March 1st. Needham & Company LLC restated a “buy” rating and set a $13.00 target price on shares of CorMedix in a report on Friday.

CorMedix Price Performance

Shares of CRMD stock opened at $4.22 on Monday. The stock has a market cap of $174.21 million, a P/E ratio of -5.70 and a beta of 2.22. The company has a fifty day moving average price of $4.28 and a two-hundred day moving average price of $3.67. CorMedix Inc. has a one year low of $2.64 and a one year high of $8.02.

About CorMedix

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CorMedix, Inc operates as a pharmaceutical and medical device company. The firm seeks to license, develop and commercialize prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases. It is developing its product Neutrolin, a novel, non-antibiotic antimicrobial solution designed to prevent costly and dangerous bloodstream infections associated with the use of central venous catheters.