NEA Management Company LLC Has $25.67 Million Position in CVRx, Inc. (NASDAQ:CVRX)

NEA Management Company LLC lessened its stake in CVRx, Inc. (NASDAQ:CVRX - Free Report) by 14.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,026,083 shares of the company's stock after selling 344,459 shares during the quarter. CVRx comprises about 1.4% of NEA Management Company LLC's investment portfolio, making the stock its 14th largest holding. NEA Management Company LLC owned about 8.35% of CVRx worth $25,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in CVRx by 43.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company's stock valued at $49,000 after buying an additional 1,186 shares during the period. Quarry LP bought a new stake in shares of CVRx in the fourth quarter worth about $69,000. MetLife Investment Management LLC bought a new stake in shares of CVRx in the fourth quarter worth about $111,000. Wells Fargo & Company MN increased its holdings in shares of CVRx by 86.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,894 shares of the company's stock worth $113,000 after acquiring an additional 4,115 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in shares of CVRx in the fourth quarter worth about $127,000. Institutional investors and hedge funds own 75.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVRX. 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. JPMorgan Chase & Co. restated 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. 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. Craig Hallum increased their price target on CVRx from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Finally, Lake Street Capital decreased their price objective on CVRx from $19.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $14.50.

CVRx Stock Up 2.4%

Shares of NASDAQ:CVRX traded up $0.15 during mid-day trading on Friday, reaching $6.34. 501,346 shares of the stock were exchanged, compared to its average volume of 332,142. The company has a quick ratio of 10.23, a current ratio of 12.06 and a debt-to-equity ratio of 0.69. The company has a market cap of $165.30 million, a P/E ratio of -2.36 and a beta of 1.39. CVRx, Inc. has a one year low of $4.30 and a one year high of $18.55. The stock's 50 day simple moving average is $8.79 and its 200-day simple moving average is $12.46.

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

Insider Activity at CVRx

In other CVRx news, Director Kirk G. Nielsen acquired 61,200 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was bought at an average cost of $5.23 per share, with a total value of $320,076.00. Following the completion of the transaction, the director now directly owns 1,899,168 shares in the company, valued at approximately $9,932,648.64. This represents a 3.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders purchased 67,700 shares of company stock valued at $351,266. Insiders own 13.90% 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.