126,015 Shares in CorMedix Inc. (NASDAQ:CRMD) Purchased by Wingate Wealth Advisors Inc.

Wingate Wealth Advisors Inc. acquired a new stake in CorMedix Inc. (NASDAQ:CRMD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 126,015 shares of the company’s stock, valued at approximately $1,021,000. CorMedix makes up approximately 1.0% of Wingate Wealth Advisors Inc.’s investment portfolio, making the stock its 28th biggest holding. Wingate Wealth Advisors Inc. owned 0.21% of CorMedix as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in CorMedix by 54.3% in the third quarter. FMR LLC now owns 4,618 shares of the company’s stock valued at $37,000 after buying an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in CorMedix in the 4th quarter valued at approximately $81,000. BNP Paribas Financial Markets increased its stake in CorMedix by 130.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,950 shares of the company’s stock valued at $97,000 after purchasing an additional 6,761 shares in the last quarter. AlphaMark Advisors LLC acquired a new position in CorMedix during the third quarter worth $97,000. Finally, The Manufacturers Life Insurance Company boosted its position in CorMedix by 13.2% during the second 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. Institutional investors and hedge funds own 34.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Royal Bank of Canada raised their target price on shares of CorMedix from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Truist Financial lifted their price objective on CorMedix from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC increased their target price on CorMedix from $10.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com raised CorMedix to a “sell” rating in a research report on Friday, November 8th. Finally, D. Boral Capital restated a “buy” rating and issued a $15.00 price objective on shares of CorMedix in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat, CorMedix currently has an average rating of “Moderate Buy” and an average target price of $15.67.

Insider Activity

In other CorMedix news, EVP Elizabeth Hurlburt sold 140,027 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $11.18, for a total value of $1,565,501.86. Following the sale, the executive vice president now directly owns 45,397 shares of the company’s stock, valued at $507,538.46. This trade represents a 75.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.20% of the company’s stock.

CorMedix Trading Down 3.2 %

CRMD stock opened at $10.16 on Monday. The firm has a 50 day simple moving average of $9.99 and a 200-day simple moving average of $8.69. The company has a market capitalization of $616.48 million, a P/E ratio of -12.54 and a beta of 1.57. CorMedix Inc. has a twelve month low of $2.89 and a twelve month high of $13.85.

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.