Raymond James Financial Services Advisors Inc. Has $308,000 Holdings in CorMedix Inc. (NASDAQ:CRMD)

Raymond James Financial Services Advisors Inc. grew its position in CorMedix Inc. (NASDAQ:CRMD) by 14.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,834 shares of the company’s stock after purchasing an additional 10,362 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.15% of CorMedix worth $308,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of CorMedix during the 4th quarter worth about $107,000. GSG Advisors LLC bought a new stake in shares of CorMedix during the 3rd quarter worth about $111,000. Raymond James & Associates boosted its stake in shares of CorMedix by 15.7% during the 4th quarter. Raymond James & Associates now owns 42,827 shares of the company’s stock worth $161,000 after acquiring an additional 5,800 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of CorMedix by 16.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 151,566 shares of the company’s stock worth $561,000 after acquiring an additional 21,185 shares in the last quarter. 34.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Joseph Todisco acquired 13,561 shares of CorMedix stock in a transaction on Wednesday, March 13th. The stock was bought at an average price of $3.74 per share, for a total transaction of $50,718.14. Following the transaction, the chief executive officer now owns 352,839 shares of the company’s stock, valued at $1,319,617.86. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.60% of the company’s stock.

CorMedix Stock Performance

Shares of CRMD stock opened at $5.28 on Tuesday. The stock has a 50 day moving average of $4.09 and a two-hundred day moving average of $3.64. CorMedix Inc. has a 12 month low of $2.57 and a 12 month high of $7.00. The company has a market capitalization of $289.40 million, a P/E ratio of -5.74 and a beta of 1.86.

CorMedix (NASDAQ:CRMD) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). Sell-side analysts predict that CorMedix Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CRMD shares. JMP Securities reiterated a “market outperform” rating and set a $19.00 price target on shares of CorMedix in a research note on Tuesday, April 9th. Royal Bank of Canada decreased their target price on CorMedix from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, March 13th. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of CorMedix in a research note on Tuesday, April 9th. Finally, Truist Financial decreased their target price on CorMedix from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st.

CorMedix 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.