CorMedix Inc. (NASDAQ:CRMD) Holdings Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of CorMedix Inc. (NASDAQ:CRMD) by 40.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 273,218 shares of the company’s stock after purchasing an additional 79,110 shares during the quarter. JPMorgan Chase & Co. owned 0.45% of CorMedix worth $2,213,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in CorMedix by 8.2% in the 4th quarter. Bank of New York Mellon Corp now owns 129,695 shares of the company’s stock valued at $1,051,000 after purchasing an additional 9,782 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of CorMedix by 1,398.2% during the fourth quarter. New York State Common Retirement Fund now owns 167,249 shares of the company’s stock valued at $1,355,000 after buying an additional 156,086 shares during the last quarter. State Street Corp raised its holdings in shares of CorMedix by 0.8% during the third quarter. State Street Corp now owns 1,225,756 shares of the company’s stock valued at $9,904,000 after buying an additional 10,204 shares during the last quarter. AlphaQuest LLC bought a new position in CorMedix in the 4th quarter worth approximately $115,000. Finally, HighTower Advisors LLC increased its position in CorMedix by 48.9% in the 4th quarter. HighTower Advisors LLC now owns 29,138 shares of the company’s stock valued at $236,000 after acquiring an additional 9,566 shares during the period. Institutional investors and hedge funds own 34.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CRMD shares. StockNews.com raised CorMedix from a “sell” rating to a “hold” rating in a research note on Tuesday, April 1st. D. Boral Capital reissued a “buy” rating and set a $15.00 target price on shares of CorMedix in a research note on Tuesday, April 8th. Leerink Partners began coverage on shares of CorMedix in a research report on Friday, March 7th. They issued an “outperform” rating and a $18.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of CorMedix in a research report on Wednesday, April 9th. Finally, Leerink Partnrs raised CorMedix to a “strong-buy” rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $14.50.

CorMedix Stock Down 0.6 %

Shares of CRMD opened at $8.45 on Thursday. The stock’s fifty day simple moving average is $8.81 and its 200-day simple moving average is $9.80. The firm has a market capitalization of $550.79 million, a PE ratio of -10.43 and a beta of 1.57. CorMedix Inc. has a 12-month low of $3.61 and a 12-month high of $13.85.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The company had revenue of $30.00 million during the quarter, compared to the consensus estimate of $27.46 million. The company’s revenue was up 29900.0% compared to the same quarter last year. Analysts anticipate that CorMedix Inc. will post -0.32 EPS for the current year.

About CorMedix

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.