11,937 Shares in CorMedix Inc. (NASDAQ:CRMD) Acquired by Legato Capital Management LLC

Legato Capital Management LLC bought a new position in CorMedix Inc. (NASDAQ:CRMD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,937 shares of the company’s stock, valued at approximately $97,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRMD. FMR LLC lifted its holdings in CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock worth $37,000 after purchasing an additional 1,625 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in CorMedix in the 4th quarter worth approximately $81,000. BNP Paribas Financial Markets lifted its holdings in CorMedix by 130.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock worth $97,000 after purchasing an additional 6,761 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in CorMedix in the 3rd quarter worth approximately $97,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in 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 purchasing an additional 2,700 shares during the last quarter. 34.18% of the stock is currently owned by institutional investors and hedge funds.

CorMedix Trading Up 0.4 %

Shares of NASDAQ CRMD opened at $10.48 on Friday. The business has a fifty day simple moving average of $10.02 and a 200 day simple moving average of $8.81. The firm has a market capitalization of $635.93 million, a price-to-earnings ratio of -12.94 and a beta of 1.57. CorMedix Inc. has a one year low of $3.03 and a one year high of $13.85.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Truist Financial boosted their target price on CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC upped their price target on CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. D. Boral Capital reiterated a “buy” rating and set a $15.00 price target on shares of CorMedix in a report on Wednesday, January 22nd. StockNews.com upgraded CorMedix to a “sell” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada upped their price target on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat.com, CorMedix presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

CorMedix Company 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.