CVRx, Inc. (NASDAQ:CVRX) CEO Kevin Hykes Buys 5,000 Shares

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) CEO Kevin Hykes acquired 5,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $4.84 per share, with a total value of $24,200.00. Following the acquisition, the chief executive officer now owns 133,000 shares in the company, valued at approximately $643,720. This trade represents a 3.91% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CVRx Stock Down 0.4%

CVRX traded down $0.02 during trading on Monday, hitting $4.75. 1,113,341 shares of the company's stock traded hands, compared to its average volume of 322,004. The company's 50 day simple moving average is $9.29 and its two-hundred day simple moving average is $12.62. The company has a current ratio of 12.06, a quick ratio of 10.23 and a debt-to-equity ratio of 0.69. CVRx, Inc. has a 12-month low of $4.30 and a 12-month high of $18.55. The stock has a market capitalization of $123.77 million, a price-to-earnings ratio of -1.77 and a beta of 1.39.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.03. CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. The business had revenue of $12.35 million for the quarter, compared to the consensus estimate of $14.68 million. Analysts predict that CVRx, Inc. will post -1.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on CVRX shares. Lake Street Capital decreased their target price on CVRx from $19.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $7.00 target price (down previously from $15.00) on shares of CVRx in a research report on Friday. Piper Sandler decreased their target price on CVRx from $20.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday. Canaccord Genuity Group reduced their price objective on CVRx from $23.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Craig Hallum raised their price objective on CVRx from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $14.50.

Institutional Trading of CVRx

Several institutional investors have recently added to or reduced their stakes in CVRX. Larson Financial Group LLC purchased a new stake in CVRx during the 1st quarter valued at $28,000. Tower Research Capital LLC TRC boosted its stake in shares of CVRx by 43.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company's stock worth $49,000 after buying an additional 1,186 shares during the last quarter. GAMMA Investing LLC lifted its position in CVRx by 1,469.3% during the first quarter. GAMMA Investing LLC now owns 4,598 shares of the company's stock valued at $56,000 after purchasing an additional 4,305 shares in the last quarter. Quarry LP purchased a new position in CVRx during the fourth quarter valued at $69,000. Finally, Whittier Trust Co. purchased a new position in CVRx during the first quarter valued at $73,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

About CVRx

CVRx, Inc, a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. The company offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction or systolic heart failure.

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