Sanctuary Advisors LLC Decreases Stock Position in CorMedix Inc $CRMD

Sanctuary Advisors LLC cut its stake in CorMedix Inc (NASDAQ:CRMD) by 87.3% in the first quarter, Holdings Channel reports. The firm owned 17,142 shares of the company’s stock after selling 117,527 shares during the period. Sanctuary Advisors LLC’s holdings in CorMedix were worth $116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in CorMedix by 22.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock worth $81,000 after acquiring an additional 1,190 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in CorMedix by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,987 shares of the company’s stock valued at $222,000 after purchasing an additional 1,631 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of CorMedix by 6.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,540 shares of the company’s stock valued at $310,000 after purchasing an additional 1,707 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of CorMedix in the fourth quarter worth about $25,000. Finally, Comerica Bank raised its stake in shares of CorMedix by 454.6% in the third quarter. Comerica Bank now owns 2,690 shares of the company’s stock worth $31,000 after purchasing an additional 2,205 shares during the last quarter. 34.18% of the stock is owned by institutional investors and hedge funds.

CorMedix Stock Performance

CorMedix stock opened at $7.53 on Monday. The company has a current ratio of 2.97, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. The stock’s 50 day simple moving average is $8.31 and its two-hundred day simple moving average is $7.62. CorMedix Inc has a 12 month low of $6.13 and a 12 month high of $14.96. The firm has a market cap of $590.73 million, a PE ratio of 3.54 and a beta of 1.50.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.35 by $0.08. CorMedix had a net margin of 45.25% and a return on equity of 45.57%. The company had revenue of $127.43 million for the quarter, compared to analyst estimates of $104.96 million. During the same quarter last year, the business earned $0.30 earnings per share. The firm’s revenue was up 226.1% on a year-over-year basis. Analysts anticipate that CorMedix Inc will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CRMD. D. Boral Capital reiterated a “buy” rating and issued a $14.00 target price on shares of CorMedix in a research report on Monday, April 27th. Royal Bank Of Canada reduced their price target on shares of CorMedix from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 14th. Needham & Company LLC lifted their price objective on shares of CorMedix from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $19.00 price objective on shares of CorMedix in a report on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.86.

About CorMedix

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.