CorMedix Inc. (NASDAQ:CRMD) Shares Sold by Jane Street Group LLC

Jane Street Group LLC reduced its position in CorMedix Inc. (NASDAQ:CRMD) by 2.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 118,854 shares of the company’s stock after selling 2,734 shares during the quarter. Jane Street Group LLC’s holdings in CorMedix were worth $960,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Marshall Wace LLP boosted its stake in CorMedix by 109.6% during the 2nd quarter. Marshall Wace LLP now owns 152,275 shares of the company’s stock worth $659,000 after purchasing an additional 79,619 shares during the period. State Street Corp raised its stake in shares of CorMedix by 0.8% during the third quarter. State Street Corp now owns 1,225,756 shares of the company’s stock worth $9,904,000 after purchasing an additional 10,204 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of CorMedix by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock worth $100,000 after acquiring an additional 2,700 shares during the period. FMR LLC boosted its holdings in CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after purchasing an additional 1,625 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in CorMedix by 150.7% during the second quarter. Commonwealth Equity Services LLC now owns 94,752 shares of the company’s stock worth $410,000 after acquiring an additional 56,963 shares during the period. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CorMedix

In related news, EVP Elizabeth Hurlburt sold 140,027 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $11.18, for a total transaction of $1,565,501.86. Following the transaction, the executive vice president now owns 45,397 shares of the company’s stock, valued at approximately $507,538.46. This represents a 75.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CRMD shares. StockNews.com upgraded shares of CorMedix to a “sell” rating in a research report on Friday, November 8th. Truist Financial lifted their price target on CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Needham & Company LLC boosted their price objective on shares of CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada raised their target price on shares of CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.80.

CorMedix Stock Performance

CorMedix stock opened at $8.10 on Wednesday. CorMedix Inc. has a fifty-two week low of $2.89 and a fifty-two week high of $13.85. The stock has a fifty day moving average of $10.00 and a two-hundred day moving average of $7.45. The company has a market capitalization of $491.48 million, a price-to-earnings ratio of -10.00 and a beta of 1.54.

CorMedix (NASDAQ:CRMD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $11.46 million for the quarter, compared to analysts’ expectations of $11.00 million. During the same quarter in the prior year, the business posted ($0.17) EPS. On average, analysts forecast that CorMedix Inc. will post -0.46 EPS for the current fiscal year.

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.