ProShare Advisors LLC Acquires 9,568 Shares of CorMedix Inc. (NASDAQ:CRMD)

ProShare Advisors LLC grew its holdings in CorMedix Inc. (NASDAQ:CRMD) by 92.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,947 shares of the company’s stock after purchasing an additional 9,568 shares during the period. ProShare Advisors LLC’s holdings in CorMedix were worth $162,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of CorMedix by 10.1% in the fourth quarter. Vanguard Group Inc. now owns 3,378,191 shares of the company’s stock valued at $27,363,000 after purchasing an additional 309,514 shares during the period. Elliott Investment Management L.P. increased its holdings in CorMedix by 85.1% during the 4th quarter. Elliott Investment Management L.P. now owns 2,870,632 shares of the company’s stock worth $23,252,000 after acquiring an additional 1,320,109 shares during the period. Geode Capital Management LLC increased its holdings in CorMedix by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 1,392,820 shares of the company’s stock worth $11,284,000 after acquiring an additional 108,356 shares during the period. Northern Trust Corp increased its holdings in CorMedix by 14.4% during the 4th quarter. Northern Trust Corp now owns 511,565 shares of the company’s stock worth $4,144,000 after acquiring an additional 64,243 shares during the period. Finally, J. Goldman & Co LP increased its holdings in CorMedix by 221.1% during the 4th quarter. J. Goldman & Co LP now owns 457,320 shares of the company’s stock worth $3,704,000 after acquiring an additional 314,880 shares during the period. Institutional investors own 34.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CRMD shares. D. Boral Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of CorMedix in a report on Tuesday, May 6th. Leerink Partners assumed coverage on shares of CorMedix in a report on Friday, March 7th. They set an “outperform” rating and a $18.00 target price on the stock. Wall Street Zen raised shares of CorMedix from a “sell” rating to a “hold” rating in a research note on Tuesday, April 1st. Leerink Partnrs raised shares of CorMedix to a “strong-buy” rating in a research note on Friday, March 7th. Finally, Needham & Company LLC boosted their price target on shares of CorMedix from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $15.00.

CorMedix Stock Performance

Shares of CorMedix stock opened at $12.07 on Monday. CorMedix Inc. has a 52-week low of $3.61 and a 52-week high of $13.85. The stock has a market capitalization of $818.65 million, a price-to-earnings ratio of -14.90 and a beta of 1.54. The company has a fifty day moving average of $9.29 and a 200-day moving average of $9.84.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $39.08 million during the quarter, compared to analysts’ expectations of $38.90 million. During the same period last year, the company posted ($0.25) EPS. On average, equities research analysts forecast that CorMedix Inc. will post -0.32 earnings per share for the current fiscal year.

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.