Raymond James Financial Services Advisors Inc. Has $308,000 Holdings in CorMedix Inc. (NASDAQ:CRMD)

Raymond James Financial Services Advisors Inc. boosted its holdings in shares of CorMedix Inc. (NASDAQ:CRMD) by 14.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 81,834 shares of the company’s stock after acquiring an additional 10,362 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in CorMedix were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of CorMedix during the fourth quarter worth approximately $107,000. GSG Advisors LLC bought a new stake in shares of CorMedix during the third quarter worth approximately $111,000. Raymond James & Associates boosted its holdings in shares of CorMedix by 15.7% during the fourth quarter. Raymond James & Associates now owns 42,827 shares of the company’s stock worth $161,000 after acquiring an additional 5,800 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of CorMedix by 16.2% during the third quarter. Bank of New York Mellon Corp now owns 151,566 shares of the company’s stock worth $561,000 after acquiring an additional 21,185 shares during the period. Institutional investors own 34.18% of the company’s stock.

CorMedix Stock Performance

Shares of CRMD stock opened at $5.28 on Tuesday. The stock has a market cap of $289.40 million, a P/E ratio of -5.74 and a beta of 1.86. The stock has a 50 day simple moving average of $4.09 and a 200 day simple moving average of $3.64. CorMedix Inc. has a 1 year low of $2.57 and a 1 year high of $7.00.

CorMedix (NASDAQ:CRMD) last released 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). Analysts forecast that CorMedix Inc. will post -0.83 EPS for the current year.

Insiders Place Their Bets

In other CorMedix news, CEO Joseph Todisco bought 13,561 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was purchased 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 acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

CRMD has been the subject of a number of research analyst reports. Truist Financial reduced their price objective on CorMedix from $18.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of CorMedix in a research note on Tuesday, April 9th. JMP Securities reiterated a “market outperform” rating and issued a $19.00 price target on shares of CorMedix in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada cut their price target on CorMedix from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, March 13th.

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.