CorMedix (NYSEAMERICAN:CRMD) released its quarterly earnings data on Tuesday. The biotechnology company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.02), Fidelity Earnings reports. The business had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.13 million.
Shares of CRMD stock traded down $0.25 on Wednesday, hitting $7.95. The stock had a trading volume of 548 shares, compared to its average volume of 498,911. CorMedix has a 12-month low of $1.90 and a 12-month high of $13.70.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of CorMedix by 374.4% in the fourth quarter. BlackRock Inc. now owns 2,656,672 shares of the biotechnology company’s stock valued at $3,427,000 after purchasing an additional 2,096,663 shares during the last quarter. Geode Capital Management LLC grew its position in CorMedix by 13.4% during the fourth quarter. Geode Capital Management LLC now owns 687,593 shares of the biotechnology company’s stock valued at $886,000 after buying an additional 81,136 shares during the period. Bank of New York Mellon Corp grew its position in CorMedix by 300.1% during the fourth quarter. Bank of New York Mellon Corp now owns 150,689 shares of the biotechnology company’s stock valued at $194,000 after buying an additional 113,029 shares during the period. Northern Trust Corp grew its position in CorMedix by 131.8% during the second quarter. Northern Trust Corp now owns 103,431 shares of the biotechnology company’s stock valued at $928,000 after buying an additional 58,803 shares during the period. Finally, EAM Global Investors LLC bought a new position in CorMedix during the first quarter valued at about $940,000.
Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of CorMedix from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 30th. TheStreet upgraded shares of CorMedix from a “d+” rating to a “c-” rating in a report on Friday, August 2nd. Finally, HC Wainwright set a $14.00 price objective on shares of CorMedix and gave the stock a “buy” rating in a report on Tuesday, May 28th.
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 and internationally. It primarily focuses on the development of its lead product candidate, Neutrolin, an anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as dialysis, critical/intensive care, and oncology.
Recommended Story: Trading Strategy
Receive News & Ratings for CorMedix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CorMedix and related companies with MarketBeat.com's FREE daily email newsletter.