CVRx (NASDAQ:CVRX) Receives New Coverage from Analysts at Craig Hallum

Research analysts at Craig Hallum began coverage on shares of CVRx (NASDAQ:CVRX - Get Free Report) in a report released on Wednesday, Marketbeat reports. The brokerage set a "buy" rating and a $23.00 price target on the stock. Craig Hallum's price objective would suggest a potential upside of 127.27% from the company's current price.

A number of other research firms have also issued reports on CVRX. Piper Sandler boosted their price objective on CVRx from $21.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, January 26th. JPMorgan Chase & Co. cut CVRx from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $36.00 to $13.00 in a research report on Wednesday. Finally, William Blair lowered shares of 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.60.

CVRx Stock Performance

Shares of CVRX traded down $5.39 during trading hours on Wednesday, hitting $10.12. The company's stock had a trading volume of 1,582,348 shares, compared to its average volume of 161,831. The company has a market cap of $218.54 million, a price-to-earnings ratio of -5.11 and a beta of 1.29. The company has a debt-to-equity ratio of 0.38, a current ratio of 14.25 and a quick ratio of 12.86. The business has a 50 day simple moving average of $18.62 and a two-hundred day simple moving average of $21.07. CVRx has a 52-week low of $7.77 and a 52-week high of $33.13.

Insider Buying and Selling at CVRx

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CVRX. Federated Hermes Inc. purchased a new position in shares of CVRx in the fourth quarter valued at about $102,000. Valeo Financial Advisors LLC bought a new position in CVRx during the 1st quarter valued at approximately $346,000. Trexquant Investment LP purchased a new stake in CVRx in the 4th quarter worth approximately $426,000. Kestra Advisory Services LLC bought a new stake in shares of CVRx in the 3rd quarter worth approximately $462,000. Finally, Jump Financial LLC purchased a new position in shares of CVRx during the fourth quarter valued at approximately $499,000. Hedge funds and other institutional investors own 75.27% of the company's stock.

About CVRx

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.