Assenagon Asset Management S.A. Increases Stock Holdings in CorMedix Inc $CRMD

Assenagon Asset Management S.A. increased its stake in shares of CorMedix Inc (NASDAQ:CRMD) by 35.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 302,508 shares of the company’s stock after purchasing an additional 78,447 shares during the quarter. Assenagon Asset Management S.A. owned 0.38% of CorMedix worth $3,518,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its holdings in CorMedix by 17.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock valued at $81,000 after purchasing an additional 998 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of CorMedix by 22.2% during the second quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock valued at $81,000 after buying an additional 1,190 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of CorMedix by 11.9% in the second quarter. China Universal Asset Management Co. Ltd. now owns 13,622 shares of the company’s stock worth $168,000 after buying an additional 1,451 shares during the period. Palisades Investment Partners LLC lifted its stake in shares of CorMedix by 0.3% during the 3rd quarter. Palisades Investment Partners LLC now owns 564,106 shares of the company’s stock worth $6,561,000 after acquiring an additional 1,579 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in CorMedix by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company’s stock valued at $222,000 after acquiring an additional 1,631 shares during the period. 34.18% of the stock is currently owned by institutional investors.

CorMedix Stock Performance

NASDAQ:CRMD opened at $6.71 on Monday. The firm has a 50-day simple moving average of $7.09 and a 200-day simple moving average of $9.55. CorMedix Inc has a one year low of $5.60 and a one year high of $17.43. The firm has a market cap of $530.43 million, a P/E ratio of 3.36 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.94 and a current ratio of 2.11.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.70). The business had revenue of $128.62 million for the quarter, compared to analysts’ expectations of $127.02 million. CorMedix had a net margin of 52.31% and a return on equity of 52.30%. The business’s quarterly revenue was up 312.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 earnings per share. Equities analysts anticipate that CorMedix Inc will post -0.32 EPS for the current fiscal year.

CorMedix announced that its board has authorized a share repurchase plan on Monday, February 2nd that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at CorMedix

In other CorMedix news, Director Alan W. Dunton sold 20,000 shares of CorMedix stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $13.00, for a total value of $260,000.00. Following the transaction, the director owned 40,250 shares in the company, valued at $523,250. The trade was a 33.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by company insiders.

Analyst Ratings Changes

CRMD has been the subject of several research analyst reports. Royal Bank Of Canada set a $13.00 target price on CorMedix and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. HC Wainwright decreased their price objective on shares of CorMedix from $18.00 to $13.00 and set a “buy” rating for the company in a report on Friday, January 23rd. Zacks Research downgraded shares of CorMedix from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CorMedix in a research note on Wednesday, January 21st. Finally, Truist Financial set a $16.00 price objective on CorMedix in a research note on Thursday, January 8th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.00.

CorMedix Company Profile

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.