11,937 Shares in CorMedix Inc. (NASDAQ:CRMD) Bought by Legato Capital Management LLC

Legato Capital Management LLC purchased a new stake in CorMedix Inc. (NASDAQ:CRMD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,937 shares of the company’s stock, valued at approximately $97,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company increased 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 worth $100,000 after purchasing an additional 2,700 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in CorMedix in the 2nd quarter worth about $138,000. SG Americas Securities LLC purchased a new position in CorMedix in the 3rd quarter worth about $152,000. Creative Planning purchased a new position in CorMedix in the 3rd quarter worth about $129,000. Finally, AlphaMark Advisors LLC purchased a new position in CorMedix in the 3rd quarter worth about $97,000. Institutional investors and hedge funds own 34.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRMD. StockNews.com raised CorMedix to a “sell” rating in a research note on Friday, November 8th. D. Boral Capital reissued a “buy” rating and issued a $15.00 price target on shares of CorMedix in a research note on Wednesday, January 22nd. Truist Financial lifted their target price on CorMedix from $12.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Needham & Company LLC lifted their target price on CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada lifted their target price on CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, CorMedix presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.67.

CorMedix Stock Performance

Shares of NASDAQ CRMD opened at $10.48 on Friday. The stock has a market cap of $635.93 million, a price-to-earnings ratio of -12.94 and a beta of 1.57. The business has a 50 day simple moving average of $10.02 and a 200 day simple moving average of $8.81. CorMedix Inc. has a 52 week low of $3.03 and a 52 week high of $13.85.

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.