CVRx, Inc. (NASDAQ:CVRX) Short Interest Down 46.5% in April

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 1,220,000 shares, a drop of 46.5% from the March 31st total of 2,280,000 shares. Based on an average daily volume of 324,200 shares, the short-interest ratio is currently 3.8 days. Approximately 7.8% of the company's stock are short sold.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVRX. Lake Street Capital dropped their price objective on shares of CVRx from $19.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Canaccord Genuity Group cut their price target on CVRx from $23.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. William Blair raised CVRx from a "market perform" rating to an "outperform" rating in a research report on Tuesday, January 14th. Piper Sandler raised their price objective on CVRx from $16.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Finally, Craig Hallum boosted their target price on shares of CVRx from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $17.60.

Institutional Trading of CVRx

Several large investors have recently bought and sold shares of CVRX. Larson Financial Group LLC acquired a new stake in shares of CVRx during the first quarter worth $28,000. Tower Research Capital LLC TRC raised its stake in CVRx by 43.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company's stock worth $49,000 after acquiring an additional 1,186 shares during the last quarter. GAMMA Investing LLC lifted its position in CVRx by 1,469.3% during the 1st quarter. GAMMA Investing LLC now owns 4,598 shares of the company's stock worth $56,000 after acquiring an additional 4,305 shares during the period. Quarry LP purchased a new stake in CVRx during the 4th quarter valued at about $69,000. Finally, Whittier Trust Co. acquired a new position in shares of CVRx in the first quarter valued at about $73,000. Hedge funds and other institutional investors own 75.27% of the company's stock.

CVRx Stock Up 9.1 %

Shares of CVRX traded up $0.66 during midday trading on Friday, hitting $7.95. 409,464 shares of the company's stock traded hands, compared to its average volume of 316,709. The company has a current ratio of 12.06, a quick ratio of 10.23 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $207.15 million, a price-to-earnings ratio of -2.96 and a beta of 1.34. CVRx has a 1 year low of $5.81 and a 1 year high of $18.55. The firm's fifty day moving average is $9.87 and its 200-day moving average is $12.73.

CVRx (NASDAQ:CVRX - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.06). CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. As a group, sell-side analysts anticipate that CVRx will post -1.91 earnings per share for the current year.

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.