CorMedix Inc. (NASDAQ:CRMD) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in CorMedix Inc. (NASDAQ:CRMD) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,297 shares of the company’s stock after selling 1,049 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CorMedix were worth $173,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in shares of CorMedix in the 4th quarter worth $81,000. Aigen Investment Management LP acquired a new stake in shares of CorMedix in the 4th quarter worth $94,000. XTX Topco Ltd acquired a new stake in shares of CorMedix in the 4th quarter worth $95,000. Legato Capital Management LLC acquired a new stake in shares of CorMedix in the 4th quarter worth $97,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of CorMedix in the 4th quarter worth $104,000. 34.18% of the stock is owned by institutional investors and hedge funds.

CorMedix Price Performance

Shares of NASDAQ:CRMD opened at $12.28 on Monday. The firm has a market capitalization of $832.89 million, a PE ratio of -15.16 and a beta of 1.54. The business has a 50-day moving average of $8.88 and a two-hundred day moving average of $9.73. CorMedix Inc. has a 12 month low of $3.61 and a 12 month high of $13.85.

CorMedix (NASDAQ:CRMD) last issued its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. The company had revenue of $39.08 million during the quarter, compared to analysts’ expectations of $38.90 million. During the same period in the previous year, the company earned ($0.25) EPS. As a group, research analysts anticipate that CorMedix Inc. will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CRMD has been the subject of a number of research analyst reports. StockNews.com upgraded CorMedix from a “sell” rating to a “hold” rating in a report on Tuesday, April 1st. Leerink Partnrs upgraded CorMedix to a “strong-buy” rating in a report on Friday, March 7th. Needham & Company LLC lifted their price objective on CorMedix from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. D. Boral Capital reissued a “buy” rating and set a $15.00 target price on shares of CorMedix in a research report on Tuesday, May 6th. Finally, Leerink Partners began coverage on CorMedix in a research report on Friday, March 7th. They set an “outperform” rating and a $18.00 target price on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.00.

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.