Geode Capital Management LLC Acquires 108,356 Shares of CorMedix Inc. (NASDAQ:CRMD)

Geode Capital Management LLC increased its holdings in shares of CorMedix Inc. (NASDAQ:CRMD) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,392,820 shares of the company’s stock after buying an additional 108,356 shares during the quarter. Geode Capital Management LLC owned 2.30% of CorMedix worth $11,284,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CRMD. FMR LLC raised its stake in CorMedix by 54.3% during the third quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after acquiring an additional 1,625 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in shares of CorMedix by 16.7% during the 4th quarter. AlphaMark Advisors LLC now owns 14,000 shares of the company’s stock valued at $113,000 after purchasing an additional 2,000 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in CorMedix by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company’s stock worth $1,214,000 after purchasing an additional 3,221 shares in the last quarter. Rhumbline Advisers lifted its stake in CorMedix by 8.6% in the 4th quarter. Rhumbline Advisers now owns 75,747 shares of the company’s stock valued at $614,000 after purchasing an additional 6,028 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in CorMedix by 44.5% in the fourth quarter. SG Americas Securities LLC now owns 27,205 shares of the company’s stock valued at $220,000 after buying an additional 8,372 shares in the last quarter. 34.18% of the stock is currently owned by institutional investors.

CorMedix Price Performance

Shares of CRMD opened at $8.50 on Wednesday. The business has a 50-day moving average of $8.85 and a 200-day moving average of $9.81. The company has a market capitalization of $554.05 million, a price-to-earnings ratio of -10.49 and a beta of 1.57. CorMedix Inc. has a 1 year low of $3.61 and a 1 year high of $13.85.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. The firm had revenue of $30.00 million for the quarter, compared to the consensus estimate of $27.46 million. The business’s revenue for the quarter was up 29900.0% on a year-over-year basis. As a group, sell-side analysts anticipate that CorMedix Inc. will post -0.32 EPS for the current year.

Analyst Ratings Changes

CRMD has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price target on shares of CorMedix in a report on Wednesday, April 9th. Leerink Partnrs raised CorMedix to a “strong-buy” rating in a report on Friday, March 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 target price on shares of CorMedix in a research report on Wednesday, March 26th. StockNews.com upgraded CorMedix from a “sell” rating to a “hold” rating in a report on Tuesday, April 1st. Finally, D. Boral Capital reiterated a “buy” rating and issued a $15.00 price objective on shares of CorMedix in a report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $14.50.

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.