CVRx (NASDAQ:CVRX) Rating Lowered to Neutral at JPMorgan Chase & Co.

CVRx (NASDAQ:CVRX - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $13.00 price target on the stock, down from their previous price target of $36.00. JPMorgan Chase & Co.'s price target would indicate a potential upside of 28.46% from the stock's previous close.

Other equities analysts also recently issued reports about the company. Piper Sandler upped their target price on CVRx from $21.00 to $33.00 and gave the company an "overweight" rating in a research report on Friday, January 26th. William Blair downgraded CVRx from an "outperform" rating to a "market perform" rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.60.

CVRx Stock Down 34.8 %

Shares of CVRX traded down $5.39 during midday trading on Wednesday, hitting $10.12. 1,582,348 shares of the company's stock traded hands, compared to its average volume of 161,831. CVRx has a 1 year low of $7.77 and a 1 year high of $33.13. The firm's fifty day moving average is $18.62 and its 200-day moving average is $21.07. The company has a current ratio of 14.25, a quick ratio of 12.86 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $218.49 million, a price-to-earnings ratio of -5.11 and a beta of 1.29.

Insiders Place Their Bets

In other CVRx news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares of the company's stock, valued at approximately $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul Verrastro sold 2,545 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total value of $55,760.95. Following the transaction, the insider now directly owns 2,455 shares of the company's stock, valued at approximately $53,789.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of the firm's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The disclosure for this sale can be found here. 18.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. acquired a new stake in CVRx in the 4th quarter valued at approximately $102,000. Trexquant Investment LP acquired a new position in shares of CVRx in the fourth quarter worth $426,000. Jump Financial LLC acquired a new position in shares of CVRx in the fourth quarter worth $499,000. Valeo Financial Advisors LLC acquired a new position in shares of CVRx in the first quarter worth $346,000. Finally, Level Four Advisory Services LLC grew its stake in shares of CVRx by 6.8% in the fourth quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company's stock worth $908,000 after acquiring an additional 1,844 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

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.