Analysts Set CVRx, Inc. (NASDAQ:CVRX) PT at $14.50

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $14.50.

Several research analysts have weighed in on CVRX shares. Canaccord Genuity Group cut their price target on CVRx from $23.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Lake Street Capital decreased their price target on shares of CVRx from $19.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Piper Sandler decreased their price objective on shares of CVRx from $20.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and issued a $7.00 price objective (down from $15.00) on shares of CVRx in a research report on Friday, May 9th.

Insiders Place Their Bets

In other news, Director Kirk G. Nielsen purchased 61,200 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $5.23 per share, for a total transaction of $320,076.00. Following the completion of the purchase, the director now owns 1,899,168 shares of the company's stock, valued at $9,932,648.64. This trade represents a 3.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 78,666 shares of company stock valued at $411,031 over the last quarter. Insiders own 13.90% of the company's stock.

Institutional Investors Weigh In On CVRx

Large investors have recently made changes to their positions in the company. Larson Financial Group LLC bought a new position in shares of CVRx in the first quarter valued at approximately $28,000. Tower Research Capital LLC TRC lifted its position 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 valued at $49,000 after acquiring an additional 1,186 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of CVRx by 1,469.3% in the 1st quarter. GAMMA Investing LLC now owns 4,598 shares of the company's stock valued at $56,000 after acquiring an additional 4,305 shares in the last quarter. Quarry LP purchased a new stake in CVRx in the 4th quarter worth approximately $69,000. Finally, Whittier Trust Co. purchased a new stake in CVRx in the 1st quarter worth approximately $73,000. Institutional investors and hedge funds own 75.27% of the company's stock.

CVRx Price Performance

Shares of NASDAQ:CVRX traded up $0.10 during trading on Thursday, hitting $6.56. 173,573 shares of the stock were exchanged, compared to its average volume of 327,621. The company has a fifty day moving average price of $7.04 and a two-hundred day moving average price of $11.60. The company has a market cap of $171.04 million, a PE ratio of -2.44 and a beta of 1.30. 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 has a 12-month low of $4.30 and a 12-month high of $18.55.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $12.35 million during the quarter, compared to the consensus estimate of $14.68 million. On average, analysts forecast that CVRx will post -1.91 EPS for the current year.

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.