Hussman Strategic Advisors Inc. Purchases 252,000 Shares of CorMedix Inc $CRMD

Hussman Strategic Advisors Inc. increased its position in CorMedix Inc (NASDAQ:CRMD) by 400.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 315,000 shares of the company’s stock after purchasing an additional 252,000 shares during the quarter. CorMedix makes up 0.8% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 13th largest position. Hussman Strategic Advisors Inc. owned about 0.40% of CorMedix worth $3,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRMD. Canada Pension Plan Investment Board bought a new stake in CorMedix in the second quarter valued at approximately $42,000. USA Financial Formulas acquired a new position in shares of CorMedix during the 2nd quarter worth approximately $55,000. State of Alaska Department of Revenue bought a new stake in CorMedix in the 3rd quarter valued at $54,000. Orion Capital Management LLC acquired a new stake in CorMedix during the 3rd quarter valued at $70,000. Finally, Russell Investments Group Ltd. boosted its position in CorMedix by 22.2% during the second quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock worth $81,000 after purchasing an additional 1,190 shares during the period. Institutional investors own 34.18% of the company’s stock.

CorMedix Stock Down 0.1%

NASDAQ CRMD opened at $7.75 on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.73 and a debt-to-equity ratio of 0.39. The company has a market cap of $610.62 million, a price-to-earnings ratio of 3.76 and a beta of 1.36. The company has a 50 day moving average of $10.05 and a 200-day moving average of $11.17. CorMedix Inc has a 1-year low of $5.60 and a 1-year high of $17.43.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.78. The firm had revenue of $104.28 million for the quarter, compared to analyst estimates of $65.63 million. CorMedix had a return on equity of 51.77% and a net margin of 75.83%.The company’s revenue was up 810.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) EPS. On average, equities research analysts expect that CorMedix Inc will post -0.32 earnings per share for the current fiscal year.

Insider Activity at CorMedix

In related news, Director Alan W. Dunton sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $13.00, for a total transaction of $260,000.00. Following the completion of the sale, the director owned 40,250 shares of the company’s stock, valued at $523,250. This represents a 33.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven W. Lefkowitz sold 40,000 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $11.88, for a total transaction of $475,200.00. Following the sale, the director owned 80,498 shares in the company, valued at $956,316.24. The trade was a 33.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 90,000 shares of company stock valued at $1,095,200 over the last quarter. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CRMD has been the topic of several research analyst reports. D Boral Capital raised shares of CorMedix from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Wall Street Zen cut shares of CorMedix from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Royal Bank Of Canada set a $13.00 price objective on shares of CorMedix and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of CorMedix in a research report on Thursday, January 8th. Finally, Truist Financial set a $16.00 target price on CorMedix in a research note on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, CorMedix presently has a consensus rating of “Buy” and an average price target of $15.86.

About CorMedix

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.