Jane Street Group LLC Cuts Position in CorMedix Inc. (NASDAQ:CRMD)

Jane Street Group LLC trimmed its position in shares of CorMedix Inc. (NASDAQ:CRMD) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,854 shares of the company’s stock after selling 2,734 shares during the period. Jane Street Group LLC owned approximately 0.20% of CorMedix worth $960,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC raised its holdings in shares of CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after buying an additional 1,625 shares during the period. Principal Financial Group Inc. purchased a new stake in CorMedix during the second quarter worth about $44,000. AlphaMark Advisors LLC acquired a new stake in shares of CorMedix during the third quarter worth about $97,000. BNP Paribas Financial Markets lifted its position in shares of CorMedix by 130.3% during the third quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock worth $97,000 after purchasing an additional 6,761 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of CorMedix by 13.2% in the second quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock valued at $100,000 after purchasing an additional 2,700 shares during the period. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

CorMedix Stock Performance

Shares of CRMD opened at $8.10 on Wednesday. The firm has a market capitalization of $491.48 million, a price-to-earnings ratio of -10.00 and a beta of 1.54. The firm’s fifty day simple moving average is $10.00 and its 200-day simple moving average is $7.45. CorMedix Inc. has a twelve month low of $2.89 and a twelve month high of $13.85.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The business had revenue of $11.46 million for the quarter, compared to analysts’ expectations of $11.00 million. During the same period last year, the firm earned ($0.17) earnings per share. On average, analysts predict that CorMedix Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Activity at CorMedix

In other news, EVP Elizabeth Hurlburt sold 140,027 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.18, for a total value of $1,565,501.86. Following the completion of the transaction, the executive vice president now owns 45,397 shares in the company, valued at approximately $507,538.46. This represents a 75.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRMD has been the topic of several recent research reports. Truist Financial upped their target price on shares of CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. StockNews.com raised CorMedix to a “sell” rating in a research report on Friday, November 8th. Needham & Company LLC lifted their target price on CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their target price on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, CorMedix presently has an average rating of “Moderate Buy” and a consensus price target of $15.80.

CorMedix 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.