VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in CorMedix Inc $CRMD

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of CorMedix Inc (NASDAQ:CRMD) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 21,900 shares of the company’s stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of CorMedix during the 2nd quarter valued at $165,000. USA Financial Formulas purchased a new stake in shares of CorMedix in the 2nd quarter worth $55,000. Palisades Investment Partners LLC increased its stake in shares of CorMedix by 56.7% in the 2nd quarter. Palisades Investment Partners LLC now owns 562,527 shares of the company’s stock worth $6,930,000 after purchasing an additional 203,557 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of CorMedix in the 2nd quarter worth $123,000. Finally, ARS Wealth Advisors Group LLC purchased a new stake in shares of CorMedix in the 2nd quarter worth $123,000. 34.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CRMD shares. Wall Street Zen lowered CorMedix from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 11th. Weiss Ratings restated a “hold (c)” rating on shares of CorMedix in a research note on Friday. Zacks Research lowered CorMedix from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. D Boral Capital upgraded CorMedix from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, HC Wainwright reduced their price objective on CorMedix from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $18.83.

CorMedix Stock Performance

Shares of CRMD stock opened at $11.17 on Monday. CorMedix Inc has a 52-week low of $5.60 and a 52-week high of $17.43. The firm has a market capitalization of $871.92 million, a PE ratio of 14.89 and a beta of 1.85. The stock has a fifty day simple moving average of $12.15 and a two-hundred day simple moving average of $11.75.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.08. CorMedix had a return on equity of 42.73% and a net margin of 42.11%.The business had revenue of $39.74 million during the quarter, compared to analyst estimates of $29.88 million. During the same quarter in the prior year, the business posted ($0.25) EPS. CorMedix’s revenue for the quarter was up 4830.1% compared to the same quarter last year. On average, sell-side analysts forecast that CorMedix Inc will post -0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other CorMedix news, Director Alan W. Dunton sold 10,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $13.13, for a total value of $131,300.00. Following the completion of the sale, the director owned 40,250 shares in the company, valued at approximately $528,482.50. This represents a 19.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kaufman Beth Zelnick sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $13.41, for a total value of $670,500.00. Following the transaction, the insider owned 180,418 shares of the company’s stock, valued at approximately $2,419,405.38. The trade was a 21.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,997 shares of company stock worth $2,163,617. 5.30% of the stock is currently owned by corporate insiders.

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.