CorMedix Inc. (NASDAQ:CRMD) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its holdings in shares of CorMedix Inc. (NASDAQ:CRMD) by 13.2% in the second quarter, Holdings Channel.com reports. The firm owned 23,190 shares of the company’s stock after buying an additional 2,700 shares during the period. The Manufacturers Life Insurance Company’s holdings in CorMedix were worth $100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Marshall Wace LLP boosted its stake 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. Rhumbline Advisers increased its stake in shares of 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. Commonwealth Equity Services LLC raised its holdings in CorMedix by 150.7% in the second quarter. Commonwealth Equity Services LLC now owns 94,752 shares of the company’s stock valued at $410,000 after acquiring an additional 56,963 shares in the last quarter. Principal Financial Group Inc. bought a new position in CorMedix during the 2nd quarter valued at $44,000. Finally, Bank of New York Mellon Corp grew its holdings in CorMedix by 19.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 158,901 shares of the company’s stock worth $688,000 after acquiring an additional 25,677 shares in the last quarter. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CRMD shares. Royal Bank of Canada restated an “outperform” rating and issued a $9.00 target price on shares of CorMedix in a research note on Thursday, August 15th. Truist Financial cut their price objective on CorMedix from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Rodman & Renshaw started coverage on CorMedix in a research report on Monday, August 26th. They issued a “buy” rating and a $13.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of CorMedix in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $12.60.

CorMedix Stock Up 5.0 %

Shares of NASDAQ:CRMD opened at $11.01 on Monday. The company has a market cap of $605.10 million, a PE ratio of -11.84 and a beta of 1.61. CorMedix Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $11.03. The firm has a 50-day simple moving average of $7.15 and a 200 day simple moving average of $5.69.

CorMedix (NASDAQ:CRMD) last posted its earnings results on Wednesday, August 14th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.01. The company had revenue of $0.81 million for the quarter, compared to the consensus estimate of $0.75 million. During the same period last year, the company posted ($0.25) earnings per share. As a group, research analysts forecast that CorMedix Inc. will post -0.58 EPS for the current fiscal year.

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.