AQR Capital Management LLC cut its stake in CorMedix Inc. (NASDAQ:CRMD – Free Report) by 53.0% during the second quarter, HoldingsChannel reports. The fund owned 11,189 shares of the company’s stock after selling 12,641 shares during the quarter. AQR Capital Management LLC’s holdings in CorMedix were worth $48,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in CorMedix by 3.6% in the first quarter. Vanguard Group Inc. now owns 2,928,186 shares of the company’s stock valued at $12,416,000 after purchasing an additional 102,851 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CorMedix by 19.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 158,901 shares of the company’s stock valued at $688,000 after buying an additional 25,677 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of CorMedix by 109.6% during the 2nd quarter. Marshall Wace LLP now owns 152,275 shares of the company’s stock valued at $659,000 after buying an additional 79,619 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of CorMedix by 150.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 94,752 shares of the company’s stock valued at $410,000 after buying an additional 56,963 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in CorMedix by 18.0% in the second quarter. Rhumbline Advisers now owns 74,239 shares of the company’s stock worth $321,000 after buying an additional 11,339 shares during the last quarter. 34.18% of the stock is owned by institutional investors and hedge funds.
CorMedix Trading Up 5.0 %
Shares of CorMedix stock opened at $11.01 on Friday. CorMedix Inc. has a 1-year low of $2.57 and a 1-year high of $11.03. The firm has a fifty day simple moving average of $7.15 and a 200-day simple moving average of $5.68. The stock has a market capitalization of $605.10 million, a price-to-earnings ratio of -11.84 and a beta of 1.61.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on CRMD shares. Truist Financial reduced their target price on shares of CorMedix from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of CorMedix in a report on Thursday, August 15th. Royal Bank of Canada reissued an “outperform” rating and set a $9.00 target price on shares of CorMedix in a research report on Thursday, August 15th. Finally, Rodman & Renshaw initiated coverage on CorMedix in a research report on Monday, August 26th. They issued a “buy” rating and a $13.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $12.60.
Read Our Latest Report on CRMD
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.
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