55,831 Shares in CVRx, Inc. (NASDAQ:CVRX) Purchased by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC acquired 55,831 shares of CVRx, Inc., valued at approximately $683,000, resulting in a total ownership of 0.21% of the company's stock.
• CVRx reported a loss of $0.57 EPS for its latest quarter, which was below analyst estimates, despite revenues exceeding expectations at $13.59 million.
• Brokerage ratings for CVRx vary, with one "strong-buy," five "buy," and an "underweight" rating from JPMorgan, who set a price target at $7.00, down from $15.00.

Informed Momentum Co LLC acquired a new stake in CVRx, Inc. (NASDAQ:CVRX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 55,831 shares of the company's stock, valued at approximately $683,000. Informed Momentum Co LLC owned about 0.21% of CVRx as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new stake in CVRx in the 1st quarter valued at about $517,000. Deutsche Bank AG increased its stake in CVRx by 41.5% during the 1st quarter. Deutsche Bank AG now owns 10,390 shares of the company's stock valued at $127,000 after buying an additional 3,048 shares during the period. Charles Schwab Investment Management Inc. increased its stake in CVRx by 12.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 41,905 shares of the company's stock valued at $512,000 after buying an additional 4,751 shares during the period. GSA Capital Partners LLP acquired a new position in CVRx during the 1st quarter valued at about $675,000. Finally, Larson Financial Group LLC acquired a new position in CVRx during the 1st quarter valued at about $28,000. 75.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on CVRX shares. Piper Sandler lowered their target price on shares of CVRx from $20.00 to $12.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald restated an "overweight" rating and set a $11.00 price target on shares of CVRx in a report on Tuesday, August 5th. William Blair upgraded shares of CVRx to a "strong-buy" rating in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $7.00 target price (down from $15.00) on shares of CVRx in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CVRx has a consensus rating of "Moderate Buy" and an average target price of $14.00.

CVRx Stock Performance

CVRX stock traded down $0.21 on Friday, reaching $7.03. 232,606 shares of the company were exchanged, compared to its average volume of 314,140. CVRx, Inc. has a 12 month low of $4.30 and a 12 month high of $18.55. The stock's fifty day moving average price is $6.98 and its 200 day moving average price is $8.94. The firm has a market capitalization of $183.85 million, a PE ratio of -3.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.85, a current ratio of 11.99 and a quick ratio of 10.78.

CVRx (NASDAQ:CVRX - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.52) by ($0.05). CVRx had a negative return on equity of 79.31% and a negative net margin of 95.61%. The company had revenue of $13.59 million for the quarter, compared to the consensus estimate of $13.22 million. On average, research analysts anticipate 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.