Silvercrest Asset Management Group LLC bought a new position in shares of CVRx, Inc. (NASDAQ:CVRX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 371,964 shares of the company's stock, valued at approximately $4,713,000. Silvercrest Asset Management Group LLC owned approximately 1.53% of CVRx at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in CVRX. JPMorgan Chase & Co. boosted its holdings in 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. Russell Investments Group Ltd. bought a new position in shares of CVRx during the 4th quarter valued at $455,000. Wells Fargo & Company MN increased its stake in shares of CVRx by 86.1% in 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 in the last quarter. Barclays PLC increased its stake in CVRx by 312.5% in the 3rd quarter. Barclays PLC now owns 19,067 shares of the company's stock worth $169,000 after buying an additional 14,445 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in CVRx in the 4th quarter worth $127,000. Institutional investors own 75.27% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $7.00 price target (down previously from $15.00) on shares of CVRx in a report on Friday, May 9th. Lake Street Capital lowered their price objective on shares of CVRx from $19.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Piper Sandler decreased their target price on shares of CVRx from $20.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Finally, Canaccord Genuity Group cut their target price on shares of CVRx from $23.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.
View Our Latest Analysis on CVRX
CVRx Trading Up 0.3%
Shares of CVRx stock traded up $0.02 during trading hours on Friday, hitting $6.67. The company's stock had a trading volume of 215,101 shares, compared to its average volume of 333,193. CVRx, Inc. has a 1-year low of $4.30 and a 1-year high of $18.55. The business has a fifty day moving average of $8.20 and a 200 day moving average of $12.12. The company has a market capitalization of $173.91 million, a PE ratio of -2.48 and a beta of 1.39. 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 (NASDAQ:CVRX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $14.68 million. As a group, equities analysts forecast that CVRx, Inc. will post -1.91 EPS for the current year.
Insider Buying and Selling at CVRx
In other news, Director Kirk G. Nielsen bought 61,200 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average price of $5.23 per share, for a total transaction of $320,076.00. Following the acquisition, the director now directly owns 1,899,168 shares of the company's stock, valued at $9,932,648.64. The trade was a 3.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased 78,666 shares of company stock valued at $411,031 in the last quarter. Company insiders own 13.90% of the company's stock.
CVRx Profile
(
Free Report)
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.
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