Squarepoint Ops LLC Purchases 224,412 Shares of CorMedix Inc $CRMD

Squarepoint Ops LLC raised its position in CorMedix Inc (NASDAQ:CRMD) by 337.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 290,832 shares of the company’s stock after purchasing an additional 224,412 shares during the quarter. Squarepoint Ops LLC owned 0.39% of CorMedix worth $3,583,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in shares of CorMedix in the second quarter valued at approximately $42,000. USA Financial Formulas bought a new stake in CorMedix during the 2nd quarter worth approximately $55,000. Russell Investments Group Ltd. increased its position in CorMedix by 22.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,553 shares of the company’s stock valued at $81,000 after acquiring an additional 1,190 shares during the period. Ameritas Investment Partners Inc. increased its position in CorMedix by 17.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock valued at $81,000 after acquiring an additional 998 shares during the period. Finally, NewEdge Advisors LLC bought a new position in shares of CorMedix during the second quarter valued at $92,000. 34.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRMD has been the topic of several analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $22.00 price objective (up previously from $21.00) on shares of CorMedix in a research note on Tuesday, October 21st. HC Wainwright upped their price target on CorMedix from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Wall Street Zen cut CorMedix from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. D Boral Capital raised CorMedix from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, Needham & Company LLC reduced their target price on CorMedix from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $18.33.

CorMedix Stock Performance

CRMD stock opened at $11.44 on Wednesday. The firm has a market cap of $901.36 million, a PE ratio of 5.55 and a beta of 1.32. The company has a current ratio of 1.94, a quick ratio of 1.73 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average price of $10.80 and a 200-day moving average price of $11.90. CorMedix Inc has a 1-year low of $5.60 and a 1-year high of $17.43.

CorMedix (NASDAQ:CRMD) last announced its earnings results on Wednesday, November 12th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.48 by $0.78. The company had revenue of $104.28 million for the quarter, compared to analyst estimates of $65.63 million. CorMedix had a return on equity of 51.77% and a net margin of 75.83%.The firm’s revenue for the quarter was up 810.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) EPS. As a group, equities research analysts expect that CorMedix Inc will post -0.32 earnings per share for the current year.

Insider Activity at CorMedix

In related news, Director Myron Kaplan bought 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The shares were acquired at an average cost of $11.02 per share, with a total value of $275,500.00. Following the completion of the purchase, the director directly owned 201,034 shares in the company, valued at $2,215,394.68. The trade was a 14.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven W. Lefkowitz sold 40,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $11.88, for a total transaction of $475,200.00. Following the completion of the sale, the director owned 80,498 shares of the company’s stock, valued at $956,316.24. The trade was a 33.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.10% of the company’s stock.

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.