Renaissance Technologies LLC Makes New Investment in CVRx, Inc. (NASDAQ:CVRX)

Renaissance Technologies LLC bought a new stake in shares of CVRx, Inc. (NASDAQ:CVRX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 40,200 shares of the company's stock, valued at approximately $509,000. Renaissance Technologies LLC owned 0.17% of CVRx at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CVRX. Wells Fargo & Company MN grew its position in shares of CVRx by 86.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,894 shares of the company's stock worth $113,000 after buying an additional 4,115 shares during the period. Calamos Advisors LLC acquired a new stake in CVRx in the fourth quarter worth $134,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of CVRx in the 4th quarter valued at $136,000. Jane Street Group LLC raised its stake in CVRx by 36.1% during the 3rd quarter. Jane Street Group LLC now owns 19,038 shares of the company's stock worth $168,000 after buying an additional 5,053 shares during the period. Finally, Barclays PLC lifted its holdings in CVRx by 312.5% during the third quarter. Barclays PLC now owns 19,067 shares of the company's stock worth $169,000 after acquiring an additional 14,445 shares in the last quarter. Institutional investors own 75.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVRX. Lake Street Capital cut their price objective on CVRx from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Piper Sandler cut their price target on shares of CVRx from $20.00 to $12.00 and set an "overweight" rating on the stock in a research note on Friday. William Blair raised shares of CVRx from a "market perform" rating to an "outperform" rating in a research report on Tuesday, January 14th. Canaccord Genuity Group cut their price objective on shares of CVRx from $23.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Craig Hallum lifted their price target on CVRx from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $14.50.

CVRx Price Performance

NASDAQ:CVRX traded down $2.69 during mid-day trading on Friday, reaching $5.09. The stock had a trading volume of 947,637 shares, compared to its average volume of 315,150. The stock has a 50-day simple moving average of $9.44 and a two-hundred day simple moving average of $12.62. The stock has a market capitalization of $132.63 million, a PE ratio of -1.89 and a beta of 1.39. CVRx, Inc. has a 12 month low of $4.65 and a 12 month high of $18.55. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.56) by $0.03. The business had revenue of $12.35 million during the quarter, compared to analyst estimates of $14.68 million. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. On average, equities analysts anticipate that CVRx, Inc. will post -1.91 earnings per share for the current year.

CVRx 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.