CVRx's (CVRX) Underweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of CVRx (NASDAQ:CVRX - Free Report) in a research note issued to investors on Friday morning, MarketBeat reports. JPMorgan Chase & Co. currently has a $7.00 target price on the stock, down from their prior target price of $15.00.

Several other equities research analysts have also recently commented on CVRX. Canaccord Genuity Group dropped their target price on shares of CVRx from $23.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Lake Street Capital lowered 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. William Blair raised shares of CVRx from a "market perform" rating to an "outperform" rating in a research report on Tuesday, January 14th. Craig Hallum lifted their price target on shares of CVRx from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Finally, Piper Sandler lifted their price target on shares of CVRx from $16.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.50.

CVRx Trading Down 39.6%

Shares of NASDAQ:CVRX traded down $3.08 on Friday, hitting $4.70. The company had a trading volume of 1,857,441 shares, compared to its average volume of 318,803. The firm's 50-day simple moving average is $9.29 and its two-hundred day simple moving average is $12.62. CVRx has a 1 year low of $4.61 and a 1 year high of $18.55. The company has a quick ratio of 10.23, a current ratio of 12.06 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $122.47 million, a price-to-earnings ratio of -1.75 and a beta of 1.39.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in CVRx by 43.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company's stock worth $49,000 after buying an additional 1,186 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in CVRx by 4.5% in the fourth quarter. Bank of New York Mellon Corp now owns 30,377 shares of the company's stock worth $385,000 after buying an additional 1,296 shares during the last quarter. Rhumbline Advisers raised its holdings in CVRx by 13.0% in the first quarter. Rhumbline Advisers now owns 19,018 shares of the company's stock worth $233,000 after buying an additional 2,192 shares during the last quarter. Larson Financial Group LLC purchased a new position in CVRx in the first quarter worth about $28,000. Finally, Barclays PLC raised its holdings in CVRx by 12.1% in the fourth quarter. Barclays PLC now owns 21,378 shares of the company's stock worth $270,000 after buying an additional 2,311 shares during the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

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.