UBS Group AG Has $7.40 Million Holdings in CorMedix Inc $CRMD

UBS Group AG cut its stake in CorMedix Inc (NASDAQ:CRMD) by 41.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 636,035 shares of the company’s stock after selling 454,873 shares during the period. UBS Group AG’s holdings in CorMedix were worth $7,397,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Deerfield Management Company L.P. bought a new position in CorMedix in the 3rd quarter valued at about $38,656,000. Marshall Wace LLP lifted its holdings in shares of CorMedix by 34.6% during the 3rd quarter. Marshall Wace LLP now owns 3,473,494 shares of the company’s stock worth $40,397,000 after acquiring an additional 893,518 shares during the period. Jump Financial LLC acquired a new stake in shares of CorMedix during the 3rd quarter worth approximately $9,003,000. Raymond James Financial Inc. boosted its position in shares of CorMedix by 646.8% during the 3rd quarter. Raymond James Financial Inc. now owns 651,987 shares of the company’s stock worth $7,583,000 after acquiring an additional 564,688 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in CorMedix by 13.1% in the fourth quarter. Vanguard Group Inc. now owns 4,499,010 shares of the company’s stock valued at $52,323,000 after acquiring an additional 521,352 shares during the last quarter. 34.18% of the stock is currently owned by institutional investors and hedge funds.

CorMedix Price Performance

CRMD stock opened at $7.91 on Tuesday. The company has a fifty day moving average price of $7.13 and a 200-day moving average price of $8.62. The company has a market capitalization of $620.48 million, a P/E ratio of 3.71 and a beta of 1.46. CorMedix Inc has a 52-week low of $6.13 and a 52-week high of $17.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 2.97.

CorMedix (NASDAQ:CRMD) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.08. CorMedix had a net margin of 45.25% and a return on equity of 45.57%. The company had revenue of $127.43 million for the quarter, compared to analysts’ expectations of $104.96 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. CorMedix’s revenue for the quarter was up 226.1% on a year-over-year basis. As a group, equities analysts expect that CorMedix Inc will post 0.47 EPS for the current year.

CorMedix announced that its Board of Directors has approved a share buyback plan on Monday, February 2nd that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to buy up to 12.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CRMD shares. Leerink Partners boosted their price target on CorMedix from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Citizens Jmp reiterated a “market outperform” rating and issued a $19.00 target price on shares of CorMedix in a research report on Tuesday, April 28th. D. Boral Capital reissued a “buy” rating and set a $14.00 target price on shares of CorMedix in a research note on Monday, April 27th. Weiss Ratings raised shares of CorMedix from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $14.00 price target (up from $13.00) on shares of CorMedix in a research note on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $15.00.

CorMedix Profile

CorMedix Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to reduce inflammation and prevent infection in critically and chronically ill patient populations. The company’s lead product candidate, Neutrolin, is a catheter lock solution that combines taurolidine, heparin and citrate to prevent catheter-related bloodstream infections (CRBSIs) in patients undergoing hemodialysis. Neutrolin has received market authorization in the European Union under the CE Mark and is positioned to address a significant unmet medical need for infection prevention in dialysis centers.

In addition to its lead asset, CorMedix is advancing a biochemical portfolio aimed at mitigating complications associated with peritoneal dialysis and other high-risk procedures.