Shares of CVRx, Inc. (NASDAQ:CVRX - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $14.50.
A number of research analysts have weighed in on CVRX shares. Lake Street Capital reduced their target price on CVRx from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $7.00 target price (down previously from $15.00) on shares of CVRx in a report on Friday, May 9th. Piper Sandler cut their price target on CVRx from $20.00 to $12.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Canaccord Genuity Group cut their price target on CVRx from $23.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Craig Hallum upped their price target on CVRx from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, January 17th.
Read Our Latest Research Report on CVRX
CVRx Trading Up 7.6%
CVRX traded up $0.40 during midday trading on Friday, reaching $5.69. 303,368 shares of the company's stock traded hands, compared to its average volume of 327,986. The firm has a fifty day moving average of $8.89 and a two-hundred day moving average of $12.48. The stock has a market capitalization of $148.26 million, a price-to-earnings ratio of -2.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23. CVRx has a 52 week low of $4.30 and a 52 week high of $18.55.
CVRx (NASDAQ:CVRX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.53) EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $14.68 million. On average, equities analysts anticipate that CVRx will post -1.91 earnings per share for the current fiscal year.
Insider Buying and Selling
In other CVRx news, Director Kirk G. Nielsen bought 61,200 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were acquired at an average cost of $5.23 per share, for a total transaction of $320,076.00. Following the purchase, the director now owns 1,899,168 shares in the company, valued at approximately $9,932,648.64. This trade represents a 3.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 67,700 shares of company stock worth $351,266 in the last 90 days. Insiders own 13.90% of the company's stock.
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 lifted its holdings in shares of CVRx by 43.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company's stock valued at $49,000 after buying an additional 1,186 shares during the period. GAMMA Investing LLC lifted its holdings in shares of CVRx by 1,469.3% during the 1st quarter. GAMMA Investing LLC now owns 4,598 shares of the company's stock valued at $56,000 after buying an additional 4,305 shares during the period. Quarry LP bought a new position in shares of CVRx during the 4th quarter valued at $69,000. Finally, Whittier Trust Co. bought a new position in shares of CVRx during the 1st quarter valued at $73,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.
CVRx Company Profile
(
Get Free ReportCVRx, 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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