14,114 Shares in CorMedix Inc. (NASDAQ:CRMD) Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. acquired a new position in CorMedix Inc. (NASDAQ:CRMD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,114 shares of the company’s stock, valued at approximately $114,000.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of CorMedix by 685.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 194,108 shares of the company’s stock worth $1,568,000 after purchasing an additional 169,397 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of CorMedix by 8.2% in the fourth quarter. Bank of New York Mellon Corp now owns 129,695 shares of the company’s stock worth $1,051,000 after buying an additional 9,782 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of CorMedix by 1,398.2% during the 4th quarter. New York State Common Retirement Fund now owns 167,249 shares of the company’s stock worth $1,355,000 after acquiring an additional 156,086 shares in the last quarter. State Street Corp increased its holdings in shares of CorMedix by 0.8% during the 3rd quarter. State Street Corp now owns 1,225,756 shares of the company’s stock valued at $9,904,000 after acquiring an additional 10,204 shares during the last quarter. Finally, AlphaQuest LLC acquired a new position in CorMedix during the fourth quarter valued at approximately $115,000. Institutional investors and hedge funds own 34.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CRMD shares. Needham & Company LLC dropped their target price on shares of CorMedix from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday. Leerink Partnrs raised CorMedix to a “strong-buy” rating in a research report on Friday, March 7th. Leerink Partners started coverage on CorMedix in a report on Friday, March 7th. They issued an “outperform” rating and a $18.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price objective on shares of CorMedix in a research note on Wednesday. Finally, D. Boral Capital reiterated a “buy” rating and set a $15.00 target price on shares of CorMedix in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CorMedix has a consensus rating of “Moderate Buy” and an average target price of $15.14.

CorMedix Price Performance

CorMedix stock opened at $6.74 on Friday. CorMedix Inc. has a 52-week low of $3.61 and a 52-week high of $13.85. The stock has a fifty day moving average price of $10.43 and a two-hundred day moving average price of $9.89. The firm has a market capitalization of $408.96 million, a P/E ratio of -8.32 and a beta of 1.53.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $30.00 million for the quarter, compared to the consensus estimate of $27.46 million. CorMedix’s quarterly revenue was up 29900.0% on a year-over-year basis. On average, equities research analysts predict that CorMedix Inc. will post -0.32 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.