CVRx, Inc. (NASDAQ:CVRX) Short Interest Update

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 1,480,000 shares, an increase of 19.4% from the April 30th total of 1,240,000 shares. Currently, 9.6% of the shares of the company are short sold. Based on an average daily volume of 423,300 shares, the short-interest ratio is currently 3.5 days.

Insiders Place Their Bets

In other news, Director Kirk G. Nielsen acquired 10,966 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average price of $5.45 per share, with a total value of $59,764.70. Following the completion of the acquisition, the director now directly owns 1,910,134 shares of the company's stock, valued at approximately $10,410,230.30. The trade was a 0.58% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders purchased 78,666 shares of company stock valued at $411,031. Company insiders own 13.90% of the company's stock.

Institutional Trading of CVRx

Several institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in CVRx by 10,520.1% during the 4th quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company's stock valued at $7,960,000 after buying an additional 622,370 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of CVRx by 86.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,894 shares of the company's stock worth $113,000 after acquiring an additional 4,115 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in CVRx during the fourth quarter valued at $455,000. Boothbay Fund Management LLC purchased a new position in CVRx during the fourth quarter valued at $127,000. Finally, Barclays PLC increased its holdings in CVRx by 12.1% in the 4th quarter. Barclays PLC now owns 21,378 shares of the company's stock valued at $270,000 after acquiring an additional 2,311 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company's stock.

Wall Street Analysts Forecast Growth

CVRX has been the subject of a number of recent research reports. JPMorgan Chase & Co. restated an "underweight" rating and set a $7.00 price target (down from $15.00) on shares of CVRx in a research note on Friday, May 9th. Lake Street Capital dropped their price objective on shares of CVRx from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Canaccord Genuity Group reduced their target price on shares of CVRx from $23.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, Piper Sandler decreased their price target on shares of CVRx from $20.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, CVRx has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.

CVRx Stock Performance

Shares of CVRX stock traded up $0.10 during trading hours on Friday, reaching $6.56. 173,573 shares of the company traded hands, compared to its average volume of 327,621. The firm has a 50-day moving average price of $7.04 and a 200 day moving average price of $11.60. The company has a market cap of $171.04 million, a P/E ratio of -2.44 and a beta of 1.30. 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 12-month low of $4.30 and a 12-month high of $18.55.

CVRx (NASDAQ:CVRX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.56) by $0.03. The firm had revenue of $12.35 million during the quarter, compared to analysts' expectations of $14.68 million. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. As a group, sell-side analysts predict that CVRx will post -1.91 earnings per share for the current fiscal 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.