CVRx, Inc. (NASDAQ:CVRX) Sees Large Decline in Short Interest

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 786,500 shares, a drop of 5.3% from the March 31st total of 830,800 shares. Based on an average trading volume of 142,000 shares, the days-to-cover ratio is currently 5.5 days. Approximately 8.5% of the company's stock are sold short.

Analyst Ratings Changes

Several research analysts have commented on CVRX shares. Piper Sandler lifted their price target on CVRx from $21.00 to $33.00 and gave the stock an "overweight" rating in a research report on Friday, January 26th. JPMorgan Chase & Co. boosted their target price on shares of CVRx from $31.00 to $36.00 and gave the stock an "overweight" rating in a research report on Friday, January 26th.

CVRx Stock Up 1.5 %

Shares of NASDAQ CVRX traded up $0.23 during mid-day trading on Tuesday, hitting $15.51. The company had a trading volume of 193,558 shares, compared to its average volume of 144,689. CVRx has a 12 month low of $9.92 and a 12 month high of $33.13. The company has a quick ratio of 12.86, a current ratio of 14.25 and a debt-to-equity ratio of 0.38. The business's 50-day simple moving average is $18.76 and its 200-day simple moving average is $21.04.

Insider Activity at CVRx

In other CVRx news, insider Paul Verrastro sold 2,545 shares of the stock in a transaction on Tuesday, February 20th. The shares were 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 $53,789.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder & Johnson Johnson sold 3,725 shares of CVRx stock in a transaction that occurred 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 transaction, the insider now owns 4,099,575 shares of the company's stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul Verrastro sold 2,545 shares of the business's stock in a transaction 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 transaction, the insider now directly owns 2,455 shares of the company's stock, valued at approximately $53,789.05. The disclosure for this sale can be found here. Insiders own 18.30% of the company's stock.

Institutional Trading of CVRx

Hedge funds have recently modified their holdings of the company. Emerald Advisers LLC raised its stake in shares of CVRx by 1.3% in the third quarter. Emerald Advisers LLC now owns 501,073 shares of the company's stock valued at $7,601,000 after purchasing an additional 6,419 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of CVRx by 4.1% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 430,844 shares of the company's stock worth $6,536,000 after acquiring an additional 16,808 shares during the period. GSG Advisors LLC acquired a new stake in shares of CVRx during the 3rd quarter valued at about $2,435,000. Lord Abbett & CO. LLC acquired a new stake in shares of CVRx during the 3rd quarter valued at about $7,116,000. Finally, Kestra Advisory Services LLC bought a new stake in CVRx in the third quarter valued at about $462,000. Institutional investors own 75.27% of the company's stock.

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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