Walleye Capital LLC Makes New $193,000 Investment in CorMedix Inc. (NASDAQ:CRMD)

Walleye Capital LLC acquired a new position in CorMedix Inc. (NASDAQ:CRMDGet Rating) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 48,000 shares of the company’s stock, valued at approximately $193,000.

A number of other institutional investors have also added to or reduced their stakes in CRMD. Amalgamated Bank bought a new position in CorMedix in the first quarter worth $26,000. Quantbot Technologies LP bought a new position in shares of CorMedix during the first quarter valued at $38,000. Avestar Capital LLC bought a new position in shares of CorMedix during the second quarter valued at $40,000. Renaissance Technologies LLC bought a new position in shares of CorMedix during the first quarter valued at $56,000. Finally, Beacon Pointe Advisors LLC bought a new position in shares of CorMedix during the first quarter valued at $60,000. Institutional investors own 30.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRMD. JMP Securities reduced their price target on CorMedix from $19.00 to $14.00 and set a “market outperform” rating for the company in a report on Tuesday, August 9th. StockNews.com began coverage on CorMedix in a report on Wednesday, October 12th. They set a “sell” rating for the company. Needham & Company LLC raised their price target on CorMedix from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 11th. Finally, Truist Financial dropped their price objective on CorMedix from $27.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 12th.

CorMedix Price Performance

CorMedix stock opened at $4.00 on Friday. CorMedix Inc. has a one year low of $2.64 and a one year high of $8.02. The stock has a market capitalization of $165.12 million, a PE ratio of -5.41 and a beta of 2.27. The business’s fifty day moving average is $3.11 and its 200 day moving average is $3.60.

Insider Activity at CorMedix

In other CorMedix news, CEO Joseph Todisco acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were bought at an average cost of $3.82 per share, with a total value of $76,400.00. Following the completion of the transaction, the chief executive officer now directly owns 242,169 shares of the company’s stock, valued at approximately $925,085.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is currently owned by insiders.

CorMedix Company Profile

(Get Rating)

CorMedix, Inc operates as a pharmaceutical and medical device company. The firm seeks to license, develop and commercialize prophylactic and therapeutic products for the prevention and treatment of infectious and inflammatory diseases. It is developing its product Neutrolin, a novel, non-antibiotic antimicrobial solution designed to prevent costly and dangerous bloodstream infections associated with the use of central venous catheters.

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Institutional Ownership by Quarter for CorMedix (NASDAQ:CRMD)

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