BNP Paribas Financial Markets Sells 3,955 Shares of CorMedix Inc. (NASDAQ:CRMD)

BNP Paribas Financial Markets reduced its holdings in shares of CorMedix Inc. (NASDAQ:CRMD) by 33.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,995 shares of the company’s stock after selling 3,955 shares during the period. BNP Paribas Financial Markets’ holdings in CorMedix were worth $65,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CRMD. Steward Partners Investment Advisory LLC lifted its stake in CorMedix by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 149,834 shares of the company’s stock worth $1,214,000 after acquiring an additional 3,221 shares during the period. MetLife Investment Management LLC increased its holdings in CorMedix by 10.6% in the 4th quarter. MetLife Investment Management LLC now owns 39,415 shares of the company’s stock worth $319,000 after buying an additional 3,776 shares in the last quarter. Invesco Ltd. increased its holdings in CorMedix by 18.1% in the 4th quarter. Invesco Ltd. now owns 24,703 shares of the company’s stock worth $200,000 after buying an additional 3,784 shares in the last quarter. Texas Yale Capital Corp. increased its holdings in CorMedix by 25.0% in the 4th quarter. Texas Yale Capital Corp. now owns 20,000 shares of the company’s stock worth $162,000 after buying an additional 4,000 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. grew its stake in shares of CorMedix by 5.4% during the 4th quarter. Parallax Volatility Advisers L.P. now owns 84,461 shares of the company’s stock valued at $684,000 after purchasing an additional 4,318 shares during the period. Hedge funds and other institutional investors own 34.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. D. Boral Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of CorMedix in a research report on Tuesday, May 6th. Leerink Partnrs raised CorMedix to a “strong-buy” rating in a research report on Friday, March 7th. Leerink Partners assumed coverage on CorMedix in a research report on Friday, March 7th. They issued an “outperform” rating and a $18.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 target price on shares of CorMedix in a report on Wednesday, March 26th. Finally, Wall Street Zen upgraded CorMedix from a “sell” rating to a “hold” rating in a research note on Tuesday, April 1st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given 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 an average price target of $15.00.

CorMedix Stock Performance

Shares of CRMD stock opened at $12.70 on Tuesday. The stock’s 50-day simple moving average is $9.40 and its 200-day simple moving average is $9.86. The firm has a market capitalization of $861.38 million, a PE ratio of -15.68 and a beta of 1.54. CorMedix Inc. has a fifty-two week low of $3.61 and a fifty-two week high of $13.85.

CorMedix (NASDAQ:CRMD) last posted its earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. The company had revenue of $39.08 million for the quarter, compared to analyst estimates of $38.90 million. During the same period last year, the business earned ($0.25) earnings per share. Sell-side analysts forecast that CorMedix Inc. will post -0.32 earnings per share 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.