AXQ Capital LP Makes New Investment in CorMedix Inc $CRMD

AXQ Capital LP bought a new stake in shares of CorMedix Inc (NASDAQ:CRMD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,401 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in CorMedix by 10.4% in the 1st quarter. Bank of New York Mellon Corp now owns 143,238 shares of the company’s stock worth $882,000 after purchasing an additional 13,543 shares in the last quarter. Private Advisor Group LLC raised its position in CorMedix by 427.1% in the 1st quarter. Private Advisor Group LLC now owns 85,509 shares of the company’s stock worth $527,000 after purchasing an additional 69,285 shares during the period. KLP Kapitalforvaltning AS purchased a new position in CorMedix in the 1st quarter worth $72,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in CorMedix during the 1st quarter worth approximately $93,000. Finally, XTX Topco Ltd raised its holdings in CorMedix by 234.2% during the 1st quarter. XTX Topco Ltd now owns 39,333 shares of the company’s stock valued at $242,000 after buying an additional 27,562 shares during the last quarter. 34.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CRMD shares. Wall Street Zen downgraded CorMedix from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. JMP Securities reissued a “market outperform” rating and set a $22.00 price target on shares of CorMedix in a research report on Tuesday, September 9th. D. Boral Capital reissued a “buy” rating and set a $14.00 price objective on shares of CorMedix in a research note on Wednesday, November 12th. Needham & Company LLC cut their price objective on shares of CorMedix from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CorMedix in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $18.33.

CorMedix Price Performance

Shares of CRMD stock opened at $9.40 on Wednesday. CorMedix Inc has a one year low of $5.60 and a one year high of $17.43. The company’s fifty day moving average price is $10.98 and its 200-day moving average price is $12.06. The company has a market capitalization of $740.62 million, a price-to-earnings ratio of 12.53 and a beta of 1.80.

CorMedix (NASDAQ:CRMD) last issued its earnings results on Wednesday, November 12th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.78. The company had revenue of $104.28 million for the quarter, compared to the consensus estimate of $65.63 million. CorMedix had a return on equity of 42.73% and a net margin of 42.11%.The firm’s quarterly revenue was up 810.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) EPS. CorMedix has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts expect that CorMedix Inc will post -0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Myron Kaplan purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were bought at an average price of $11.02 per share, for a total transaction of $275,500.00. Following the acquisition, the director owned 201,034 shares of the company’s stock, valued at approximately $2,215,394.68. This represents a 14.20% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Todisco sold 50,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $13.00, for a total transaction of $650,000.00. Following the transaction, the chief executive officer owned 509,496 shares in the company, valued at $6,623,448. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 163,997 shares of company stock valued at $2,163,617 in the last three months. Corporate insiders own 3.10% of the company’s stock.

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.