Lake Street Capital Trims CVRx (NASDAQ:CVRX) Target Price to $18.00

CVRx (NASDAQ:CVRX - Get Free Report) had its target price decreased by Lake Street Capital from $35.00 to $18.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Lake Street Capital's price target points to a potential upside of 77.87% from the stock's current price.

Several other equities analysts have also commented on CVRX. Canaccord Genuity Group decreased their price target on CVRx from $32.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday. William Blair lowered shares of CVRx from an "outperform" rating to a "market perform" rating in a research note on Wednesday. JPMorgan Chase & Co. lowered shares of CVRx from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $36.00 to $13.00 in a report on Wednesday. Craig Hallum initiated coverage on CVRx in a research report on Wednesday. They set a "buy" rating and a $23.00 price objective on the stock. Finally, Piper Sandler cut their price target on CVRx from $33.00 to $15.00 and set an "overweight" rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $16.60.

CVRx Trading Down 34.8 %

Shares of CVRX stock traded down $5.39 during trading on Wednesday, hitting $10.12. 1,582,348 shares of the stock traded hands, compared to its average volume of 161,831. CVRx has a 52-week low of $7.77 and a 52-week high of $33.13. The firm has a market capitalization of $218.54 million, a P/E ratio of -5.11 and a beta of 1.29. The firm's fifty day moving average price is $18.62 and its 200-day moving average price is $21.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 14.25 and a quick ratio of 12.86.

Insider Transactions at CVRx

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC purchased a new stake in CVRx in the 1st quarter valued at $346,000. Parkman Healthcare Partners LLC raised its holdings in shares of CVRx by 8.0% in the fourth quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company's stock valued at $7,546,000 after buying an additional 17,880 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of CVRx during the fourth quarter worth about $426,000. Level Four Advisory Services LLC grew its holdings in shares of CVRx by 6.8% during the fourth quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company's stock worth $908,000 after buying an additional 1,844 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in CVRx in the 4th quarter valued at about $499,000. Institutional investors and hedge funds 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.