Beacon Pointe Advisors LLC Purchases New Position in CorMedix Inc. (NASDAQ:CRMD)

Beacon Pointe Advisors LLC acquired a new stake in CorMedix Inc. (NASDAQ:CRMD) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 24,000 shares of the company’s stock, valued at approximately $90,000.

Several other institutional investors have also added to or reduced their stakes in CRMD. Advisor OS LLC lifted its holdings in shares of CorMedix by 20.0% during the fourth quarter. Advisor OS LLC now owns 30,000 shares of the company’s stock valued at $113,000 after purchasing an additional 5,000 shares in the last quarter. Jump Financial LLC purchased a new position in CorMedix in the 4th quarter worth about $266,000. MJP Associates Inc. ADV purchased a new position in CorMedix in the 4th quarter worth about $94,000. Raymond James Financial Services Advisors Inc. lifted its stake in CorMedix by 14.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 81,834 shares of the company’s stock valued at $308,000 after acquiring an additional 10,362 shares during the period. Finally, Raymond James & Associates grew its stake in shares of CorMedix by 15.7% in the fourth quarter. Raymond James & Associates now owns 42,827 shares of the company’s stock worth $161,000 after acquiring an additional 5,800 shares during the period. 34.18% of the stock is currently owned by hedge funds and other institutional investors.

CorMedix Stock Up 0.2 %

CRMD stock opened at $5.12 on Monday. The business’s 50-day moving average price is $4.98 and its 200-day moving average price is $3.99. The stock has a market cap of $281.39 million, a P/E ratio of -5.51 and a beta of 1.79. CorMedix Inc. has a twelve month low of $2.57 and a twelve month high of $7.00.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.05). On average, equities research analysts expect that CorMedix Inc. will post -0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CorMedix news, CEO Joseph Todisco purchased 13,561 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was acquired at an average price of $3.74 per share, for a total transaction of $50,718.14. Following the purchase, the chief executive officer now owns 352,839 shares of the company’s stock, valued at approximately $1,319,617.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRMD. JMP Securities restated a “market outperform” rating and set a $19.00 price objective on shares of CorMedix in a research report on Tuesday, April 9th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of CorMedix in a report on Monday, May 13th. Truist Financial dropped their price target on CorMedix from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada lowered their target price on CorMedix from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th.

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.