BNP Paribas Financial Markets Purchases New Shares in CVRx, Inc. (NASDAQ:CVRX)

BNP Paribas Financial Markets purchased a new stake in CVRx, Inc. (NASDAQ:CVRX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 47,120 shares of the company's stock, valued at approximately $597,000. BNP Paribas Financial Markets owned approximately 0.19% of CVRx at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CVRX. Calamos Advisors LLC purchased a new stake in shares of CVRx during the fourth quarter valued at approximately $134,000. Bank of New York Mellon Corp increased its holdings in CVRx by 4.5% during the 4th quarter. Bank of New York Mellon Corp now owns 30,377 shares of the company's stock worth $385,000 after acquiring an additional 1,296 shares during the period. Emerald Advisers LLC increased its stake in CVRx by 47.3% in the 4th quarter. Emerald Advisers LLC now owns 593,898 shares of the company's stock worth $7,525,000 after acquiring an additional 190,844 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CVRx by 10,520.1% in the 4th quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company's stock worth $7,960,000 after buying an additional 622,370 shares during the last quarter. Finally, Norges Bank bought a new stake in CVRx during the fourth quarter worth about $1,411,000. 75.27% of the stock is owned by institutional investors and hedge funds.

CVRx Stock Performance

CVRX traded up $0.04 during midday trading on Thursday, reaching $6.79. The company had a trading volume of 73,304 shares, compared to its average volume of 332,525. The business has a 50-day moving average of $7.86 and a two-hundred day moving average of $11.99. The company has a quick ratio of 10.23, a current ratio of 12.06 and a debt-to-equity ratio of 0.69. CVRx, Inc. has a 1 year low of $4.30 and a 1 year high of $18.55. The company has a market cap of $177.04 million, a P/E ratio of -2.53 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, topping analysts' consensus estimates of ($0.56) by $0.03. The company had revenue of $12.35 million for 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, equities research analysts predict that CVRx, Inc. will post -1.91 earnings per share for the current fiscal year.

Insider Activity at CVRx

In other CVRx news, Director Kirk G. Nielsen purchased 10,966 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were acquired at an average cost 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 in the company, valued at $10,410,230.30. The trade was a 0.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders have bought 78,666 shares of company stock worth $411,031. 13.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CVRX shares. Canaccord Genuity Group cut their target price on shares of CVRx from $23.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Piper Sandler lowered their price objective on shares of CVRx from $20.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Lake Street Capital reduced their price target on CVRx from $19.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $7.00 price target (down from $15.00) on shares of CVRx in a report on Friday, May 9th. 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 data from MarketBeat, CVRx presently has an average rating of "Moderate Buy" and an average 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.