Silvercrest Asset Management Group LLC Makes New $4.71 Million Investment in CVRx, Inc. (NASDAQ:CVRX)

Silvercrest Asset Management Group LLC acquired a new position in shares of CVRx, Inc. (NASDAQ:CVRX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 371,964 shares of the company's stock, valued at approximately $4,713,000. Silvercrest Asset Management Group LLC owned about 1.53% of CVRx as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Parkman Healthcare Partners LLC increased its holdings in CVRx by 34.9% during the 4th quarter. Parkman Healthcare Partners LLC now owns 921,174 shares of the company's stock worth $11,671,000 after purchasing an additional 238,277 shares during the last quarter. Cresset Asset Management LLC increased its holdings in CVRx by 20.5% during the 4th quarter. Cresset Asset Management LLC now owns 51,102 shares of the company's stock worth $647,000 after purchasing an additional 8,699 shares during the last quarter. Bank of America Corp DE increased its holdings in CVRx by 13.9% during the 4th quarter. Bank of America Corp DE now owns 103,207 shares of the company's stock worth $1,308,000 after purchasing an additional 12,600 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in CVRx during the 4th quarter worth approximately $597,000. Finally, Emerald Mutual Fund Advisers Trust increased its holdings in CVRx by 28.8% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 370,813 shares of the company's stock worth $4,698,000 after purchasing an additional 82,978 shares during the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVRX. Piper Sandler lowered 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 target (down from $15.00) on shares of CVRx in a report on Friday, May 9th. Canaccord Genuity Group lowered their price target on CVRx from $23.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, Lake Street Capital lowered their price target on CVRx from $19.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $14.50.

CVRx Price Performance

Shares of CVRX opened at $6.85 on Tuesday. The company has a market cap of $178.60 million, a P/E ratio of -2.55 and a beta of 1.39. The stock has a fifty day moving average price of $8.59 and a 200 day moving average price of $12.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23. CVRx, Inc. has a 12 month low of $4.30 and a 12 month high of $18.55.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.56) by $0.03. The firm had revenue of $12.35 million during the quarter, compared to the consensus estimate of $14.68 million. CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. On average, research analysts forecast that CVRx, Inc. will post -1.91 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kirk G. Nielsen acquired 10,966 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $5.45 per share, for a total transaction of $59,764.70. Following the purchase, the director now directly owns 1,910,134 shares in the company, valued at $10,410,230.30. This represents a 0.58% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased a total of 78,666 shares of company stock worth $411,031 in the last three months. 13.90% of the stock is owned by insiders.

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.

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