Cubist Systematic Strategies LLC Cuts Position in CVRx, Inc. (NASDAQ:CVRX)

Cubist Systematic Strategies LLC lowered its stake in shares of CVRx, Inc. (NASDAQ:CVRX - Free Report) by 56.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,922 shares of the company's stock after selling 52,165 shares during the quarter. Cubist Systematic Strategies LLC owned 0.16% of CVRx worth $506,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its stake in CVRx by 43.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company's stock worth $49,000 after purchasing an additional 1,186 shares during the last quarter. Quarry LP purchased a new stake in CVRx during the 4th quarter valued at $69,000. MetLife Investment Management LLC bought a new stake in CVRx in the 4th quarter worth about $111,000. Wells Fargo & Company MN lifted its holdings in shares of CVRx by 86.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,894 shares of the company's stock valued at $113,000 after buying an additional 4,115 shares during the period. Finally, Boothbay Fund Management LLC purchased a new stake in shares of CVRx during the 4th quarter valued at about $127,000. 75.27% of the stock is owned by institutional investors.

CVRx Stock Down 2.7%

NASDAQ:CVRX traded down $0.19 during mid-day trading on Wednesday, reaching $6.80. The stock had a trading volume of 71,964 shares, compared to its average volume of 362,017. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23. The stock's 50 day simple moving average is $8.51 and its two-hundred day simple moving average is $12.33. CVRx, Inc. has a 1-year low of $4.30 and a 1-year high of $18.55. The company has a market capitalization of $177.30 million, a price-to-earnings ratio of -2.54 and a beta of 1.39.

CVRx (NASDAQ:CVRX - Get Free Report) last released 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. The business had revenue of $12.35 million during the quarter, compared to analyst estimates of $14.68 million. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. Equities analysts anticipate that CVRx, Inc. will post -1.91 EPS for the current year.

Insider Buying and Selling

In related news, Director Kirk G. Nielsen bought 10,966 shares of the company's stock in a transaction on Thursday, May 15th. The stock was bought at an average cost of $5.45 per share, with a total value of $59,764.70. Following the completion of the purchase, the director now owns 1,910,134 shares in the company, valued at approximately $10,410,230.30. The trade was a 0.58% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders acquired 78,666 shares of company stock valued at $411,031. Insiders own 13.90% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. restated an "underweight" rating and set a $7.00 target price (down from $15.00) on shares of CVRx in a research report on Friday, May 9th. Canaccord Genuity Group decreased their target price on shares of CVRx from $23.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Piper Sandler reduced 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, Lake Street Capital cut their price target on CVRx from $19.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.50.

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.