GSG Advisors LLC Sells 11,000 Shares of CorMedix Inc. (NASDAQ:CRMD)

GSG Advisors LLC reduced its holdings in shares of CorMedix Inc. (NASDAQ:CRMD) by 29.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,500 shares of the company’s stock after selling 11,000 shares during the period. GSG Advisors LLC’s holdings in CorMedix were worth $215,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRMD. Marshall Wace LLP lifted its stake in CorMedix by 109.6% during the second quarter. Marshall Wace LLP now owns 152,275 shares of the company’s stock worth $659,000 after purchasing an additional 79,619 shares during the period. State Street Corp lifted its position 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 worth $9,904,000 after buying an additional 10,204 shares during the period. The Manufacturers Life Insurance Company boosted its stake in CorMedix by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,190 shares of the company’s stock valued at $100,000 after buying an additional 2,700 shares in the last quarter. FMR LLC boosted its stake in CorMedix by 54.3% in the 3rd quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after buying an additional 1,625 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in CorMedix by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,284,464 shares of the company’s stock valued at $10,380,000 after acquiring an additional 13,171 shares during the period. Institutional investors own 34.18% of the company’s stock.

Insider Activity

In other news, EVP Elizabeth Hurlburt sold 140,027 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $11.18, for a total value of $1,565,501.86. Following the transaction, the executive vice president now directly owns 45,397 shares in the company, valued at $507,538.46. This trade represents a 75.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.20% of the company’s stock.

CorMedix Price Performance

CRMD stock opened at $11.12 on Tuesday. The stock has a market capitalization of $674.73 million, a PE ratio of -13.73 and a beta of 1.56. The company has a 50 day moving average price of $9.65 and a 200 day moving average price of $7.78. CorMedix Inc. has a fifty-two week low of $2.89 and a fifty-two week high of $13.85.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the company earned ($0.17) EPS. As a group, equities analysts expect that CorMedix Inc. will post -0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRMD. D. Boral Capital initiated coverage on shares of CorMedix in a research note on Monday. They issued a “buy” rating and a $15.00 target price on the stock. Needham & Company LLC upped their price objective on shares of CorMedix from $10.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of CorMedix to a “sell” rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their target price on CorMedix from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Truist Financial raised their price target on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.