CVRx (NASDAQ:CVRX) COO Brent Binkowski Buys 26,223 Shares of Stock

Key Points

• CVRx COO Brent Binkowski purchased 26,223 shares at an average price of $2.91, increasing his holdings by 86.57% to 56,514 shares. He had sold 1,309 shares the previous day.
• CVRx shares rose 7.7% to $2.94, but the company reported a quarterly loss of $0.53 per share and continues to face sharply negative profitability metrics.
• Analyst sentiment has weakened, with several firms downgrading the stock; CVRx has a consensus “Hold” rating and an average price target of $6.90.

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) COO Brent Binkowski purchased 26,223 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $2.91 per share, with a total value of $76,308.93. Following the completion of the transaction, the chief operating officer owned 56,514 shares of the company's stock, valued at approximately $164,455.74. The trade was a 86.57% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Brent Binkowski also recently made the following trade(s):

• On Wednesday, August 12th, Brent Binkowski sold 1,309 shares of CVRx stock. The stock was sold at an average price of $2.55, for a total transaction of $3,337.95.

CVRx Stock Up 7.7%

CVRX traded up $0.21 during trading on Thursday, hitting $2.94. The stock had a trading volume of 1,210,529 shares, compared to its average volume of 1,278,519. The stock has a 50 day simple moving average of $4.96 and a two-hundred day simple moving average of $6.40. The company has a market capitalization of $78.32 million, a PE ratio of -1.48 and a beta of 0.81. The company has a debt-to-equity ratio of 2.94, a quick ratio of 6.87 and a current ratio of 8.04. CVRx, Inc. has a twelve month low of $2.20 and a twelve month high of $11.30.

CVRx (NASDAQ:CVRX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of ($0.52) by ($0.01). CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. The business had revenue of $15.71 million during the quarter, compared to analysts' expectations of $15.55 million. On average, research analysts predict that CVRx, Inc. will post -1.97 earnings per share for the current year.

Institutional Trading of CVRx

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of CVRx by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 382,437 shares of the company's stock worth $2,249,000 after purchasing an additional 23,079 shares during the last quarter. XTX Topco Ltd purchased a new position in CVRx during the second quarter worth approximately $155,000. Marshall Wace LLP boosted its stake in CVRx by 238.1% during the second quarter. Marshall Wace LLP now owns 350,080 shares of the company's stock worth $2,058,000 after buying an additional 246,548 shares during the last quarter. Cresset Asset Management LLC grew its holdings in CVRx by 3.5% in the 2nd quarter. Cresset Asset Management LLC now owns 53,542 shares of the company's stock valued at $315,000 after buying an additional 1,823 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of CVRx by 7.6% in the 2nd quarter. Bank of America Corp DE now owns 89,049 shares of the company's stock worth $524,000 after acquiring an additional 6,312 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CVRX. Wall Street Zen lowered shares of CVRx from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Weiss Ratings reissued a "sell (e+)" rating on shares of CVRx in a research note on Monday, August 3rd. Craig Hallum downgraded shares of CVRx from a "buy" rating to a "hold" rating and set a $4.00 price objective on the stock. in a report on Friday, August 7th. Lake Street Capital lowered shares of CVRx from a "buy" rating to a "hold" rating and decreased their price target for the company from $14.00 to $3.50 in a research note on Friday, August 7th. Finally, Piper Sandler cut CVRx from an "overweight" rating to a "neutral" rating and set a $4.00 price objective on the stock. in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, CVRx has a consensus rating of "Hold" and an average target price of $6.90.

CVRx Company Profile

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company's flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body's natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.

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