GSA Capital Partners LLP Takes Position in CVRx, Inc. (NASDAQ:CVRX)

Key Points

• GSA Capital Partners LLP acquired 55,200 shares of CVRx, Inc. during the 1st quarter, valued at approximately $675,000, bringing its ownership to 0.21% of the company.
• Institutional investors own 75.27% of CVRx's stock, with significant stakes held by firms including JPMorgan Chase & Co. and Wells Fargo & Company.
• CVRx recently reported earnings that beat estimates but had lower-than-expected revenue, with an ongoing prediction of -1.91 earnings per share for the current fiscal year.

GSA Capital Partners LLP purchased a new position in CVRx, Inc. (NASDAQ:CVRX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 55,200 shares of the company's stock, valued at approximately $675,000. GSA Capital Partners LLP owned about 0.21% of CVRx as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Parkman Healthcare Partners LLC boosted its stake in shares of CVRx by 34.9% in the 4th quarter. Parkman Healthcare Partners LLC now owns 921,174 shares of the company's stock worth $11,671,000 after buying an additional 238,277 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of CVRx by 10,520.1% in the fourth quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company's stock valued at $7,960,000 after acquiring an additional 622,370 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of CVRx in the fourth quarter worth $4,713,000. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of CVRx by 28.8% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 370,813 shares of the company's stock valued at $4,698,000 after purchasing an additional 82,978 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of CVRx by 9.8% during the 4th quarter. Geode Capital Management LLC now owns 323,931 shares of the company's stock worth $4,105,000 after acquiring an additional 28,807 shares in the last quarter. Institutional investors own 75.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. restated an "underweight" rating and issued a $7.00 price target (down from $15.00) on shares of CVRx in a research report on Friday, May 9th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $11.00 price target on shares of CVRx in a research note on Tuesday. Piper Sandler cut 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. Finally, William Blair upgraded CVRx to a "strong-buy" rating in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CVRx currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Insider Buying and Selling

In related news, Director Kirk G. Nielsen bought 61,200 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average cost of $5.23 per share, for a total transaction of $320,076.00. Following the purchase, the director directly owned 1,899,168 shares in the company, valued at $9,932,648.64. This trade represents a 3.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased a total of 78,666 shares of company stock worth $411,031 in the last 90 days. Company insiders own 13.90% of the company's stock.

CVRx Stock Down 2.0%

Shares of CVRX traded down $0.14 during mid-day trading on Thursday, reaching $6.92. 126,049 shares of the stock traded hands, compared to its average volume of 328,138. CVRx, Inc. has a 12-month low of $4.30 and a 12-month high of $18.55. The stock has a fifty day simple moving average of $6.88 and a 200 day simple moving average of $9.49. The company has a quick ratio of 13.45, a current ratio of 14.82 and a debt-to-equity ratio of 0.71. The firm has a market cap of $180.40 million, a price-to-earnings ratio of -3.30 and a beta of 1.27.

CVRx (NASDAQ:CVRX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.05). CVRx had a negative net margin of 95.61% and a negative return on equity of 76.24%. The firm had revenue of $13.59 million during the quarter, compared to analyst estimates of $13.22 million. Sell-side analysts expect that CVRx, Inc. will post -1.91 EPS for the current fiscal year.

CVRx Company Profile

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.