Lord Abbett & CO. LLC Invests $4.85 Million in CVRx, Inc. $CVRX

Key Points

• Lord Abbett & CO. LLC acquired a new position in CVRx, purchasing 396,763 shares valued at approximately $4.85 million, representing around 1.52% of the company's equity.
• Analysts have varied perspectives on CVRx, with JPMorgan Chase maintaining an "underweight" rating and a target price adjustment from $15.00 to $7.00, while William Blair upgraded the stock to a "strong-buy" rating.
• CVRx's shares saw a decrease of 2.9% recently, having a one-year range between $4.30 and $18.55, with current trading around $7.03.

Lord Abbett & CO. LLC bought a new stake in CVRx, Inc. (NASDAQ:CVRX - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 396,763 shares of the company's stock, valued at approximately $4,852,000. Lord Abbett & CO. LLC owned about 1.52% of CVRx at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVRX. Principal Financial Group Inc. bought a new stake in CVRx during the first quarter valued at about $731,000. Wells Fargo & Company MN lifted its position in shares of CVRx by 86.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,894 shares of the company's stock worth $113,000 after purchasing an additional 4,115 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in CVRx during the 4th quarter valued at approximately $455,000. Bank of America Corp DE boosted its stake in CVRx by 13.9% during the 4th quarter. Bank of America Corp DE now owns 103,207 shares of the company's stock valued at $1,308,000 after purchasing an additional 12,600 shares during the period. Finally, GAMMA Investing LLC grew its holdings in CVRx by 1,469.3% in the 1st quarter. GAMMA Investing LLC now owns 4,598 shares of the company's stock valued at $56,000 after buying an additional 4,305 shares during the last quarter. Institutional investors and hedge funds own 75.27% of the company's stock.

Wall Street Analyst Weigh In

CVRX has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $11.00 price objective on shares of CVRx in a research report on Tuesday, August 5th. Piper Sandler cut their price target on CVRx from $20.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $7.00 price objective (down previously from $15.00) on shares of CVRx in a research report on Friday, May 9th. Finally, William Blair upgraded CVRx to a "strong-buy" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $14.00.

CVRx Price Performance

CVRX traded up $0.3490 during midday trading on Thursday, reaching $7.5490. 226,837 shares of the company's stock were exchanged, compared to its average volume of 324,706. The company has a quick ratio of 10.78, a current ratio of 11.99 and a debt-to-equity ratio of 0.85. The business has a 50-day simple moving average of $7.02 and a two-hundred day simple moving average of $8.80. The firm has a market capitalization of $197.41 million, a price-to-earnings ratio of -3.60 and a beta of 1.27. CVRx, Inc. has a one year low of $4.30 and a one year high of $18.55.

CVRx (NASDAQ:CVRX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.05). The company had revenue of $13.59 million for the quarter, compared to analyst estimates of $13.22 million. CVRx had a negative return on equity of 79.31% and a negative net margin of 95.61%. CVRx has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts predict that CVRx, Inc. will post -1.91 EPS for the current year.

CVRx 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.