CorMedix Inc. (NASDAQ:CRMD) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its stake in CorMedix Inc. (NASDAQ:CRMD) by 39.7% during the 3rd quarter, Holdings Channel reports. The fund owned 19,244 shares of the company’s stock after selling 12,649 shares during the quarter. Sanctuary Advisors LLC’s holdings in CorMedix were worth $155,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CRMD. FMR LLC boosted its stake in CorMedix by 54.3% in the third quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after acquiring an additional 1,625 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of CorMedix in the 2nd quarter valued at about $44,000. BNP Paribas Financial Markets grew its stake in CorMedix by 130.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock worth $97,000 after buying an additional 6,761 shares during the last quarter. AlphaMark Advisors LLC acquired a new position in CorMedix during the third quarter worth approximately $97,000. Finally, Palumbo Wealth Management LLC purchased a new stake in CorMedix in the third quarter valued at approximately $100,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.

Analyst Upgrades and Downgrades

CRMD has been the topic of a number of recent research reports. Royal Bank of Canada lifted 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. StockNews.com upgraded shares of CorMedix to a “sell” rating in a research note on Friday, November 8th. Truist Financial boosted their price target on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC increased 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. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.80.

Insiders Place Their Bets

In other news, EVP Elizabeth Hurlburt sold 140,027 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $11.18, for a total value of $1,565,501.86. Following the completion of the sale, the executive vice president now owns 45,397 shares of the company’s stock, valued at approximately $507,538.46. The trade was a 75.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is owned by insiders.

CorMedix Price Performance

Shares of NASDAQ CRMD opened at $8.10 on Tuesday. CorMedix Inc. has a 12-month low of $2.89 and a 12-month high of $13.85. The firm’s 50-day moving average is $10.08 and its two-hundred day moving average is $7.42. The company has a market capitalization of $491.48 million, a PE ratio of -10.00 and a beta of 1.54.

CorMedix (NASDAQ:CRMD) last announced its earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $11.46 million for the quarter, compared to analyst estimates of $11.00 million. During the same quarter last 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.