Sigma Planning Corp Boosts Stock Holdings in CorMedix Inc. (NASDAQ:CRMD)

Sigma Planning Corp grew its position in CorMedix Inc. (NASDAQ:CRMD) by 23.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,947 shares of the company’s stock after acquiring an additional 7,679 shares during the quarter. Sigma Planning Corp owned about 0.07% of CorMedix worth $323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. acquired a new position in CorMedix in the 2nd quarter valued at $44,000. Tidal Investments LLC acquired a new stake in shares of CorMedix in the first quarter valued at about $60,000. Price T Rowe Associates Inc. MD lifted its stake in shares of CorMedix by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,635 shares of the company’s stock worth $63,000 after buying an additional 2,562 shares in the last quarter. AlphaMark Advisors LLC acquired a new position in CorMedix during the third quarter worth about $97,000. Finally, Palumbo Wealth Management LLC purchased a new stake in CorMedix during the 3rd quarter valued at about $100,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.

CorMedix Stock Down 6.1 %

NASDAQ:CRMD opened at $10.33 on Friday. CorMedix Inc. has a 52 week low of $2.89 and a 52 week high of $13.85. The stock’s fifty day moving average is $9.52 and its two-hundred day moving average is $6.52. The company has a market capitalization of $626.79 million, a P/E ratio of -12.75 and a beta of 1.58.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.05. The company had revenue of $11.46 million during the quarter, compared to analysts’ expectations of $11.00 million. During the same quarter last year, the firm posted ($0.17) earnings per share. Sell-side analysts anticipate that CorMedix Inc. will post -0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CRMD shares. Rodman & Renshaw assumed coverage on shares of CorMedix in a research note on Monday, August 26th. They issued a “buy” rating and a $13.00 target price on the stock. Needham & Company LLC lifted their price objective on CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Truist Financial upped their target price on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. StockNews.com upgraded CorMedix to a “sell” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $9.00 price objective on shares of CorMedix in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, CorMedix presently has a consensus rating of “Moderate Buy” and an average price target of $15.20.

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.