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

CVRx, Inc. (NASDAQ:CVRX) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 1,642,563 shares, a growth of 23.4% from the January 15th total of 1,331,161 shares. Currently, 7.7% of the shares of the company are sold short. Based on an average trading volume of 482,241 shares, the days-to-cover ratio is presently 3.4 days. Based on an average trading volume of 482,241 shares, the days-to-cover ratio is presently 3.4 days. Currently, 7.7% of the shares of the company are sold short.

Hedge Funds Weigh In On CVRx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mount Lucas Management LP bought a new position in CVRx in the 2nd quarter worth about $30,000. Larson Financial Group LLC boosted its position in shares of CVRx by 155.6% during the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock valued at $39,000 after acquiring an additional 3,303 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of CVRx during the 2nd quarter valued at about $59,000. R Squared Ltd purchased a new position in shares of CVRx during the fourth quarter worth about $74,000. Finally, AlphaQuest LLC increased its position in shares of CVRx by 114.6% in the second quarter. AlphaQuest LLC now owns 13,106 shares of the company’s stock worth $77,000 after purchasing an additional 6,998 shares during the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

CVRx Price Performance

Shares of NASDAQ:CVRX opened at $4.74 on Wednesday. The company has a 50 day moving average of $7.01 and a 200 day moving average of $8.04. The stock has a market cap of $124.24 million, a P/E ratio of -2.31 and a beta of 1.31. CVRx has a 12 month low of $4.30 and a 12 month high of $15.36. The company has a current ratio of 9.62, a quick ratio of 8.60 and a debt-to-equity ratio of 1.03.

CVRx (NASDAQ:CVRX) last posted its earnings results on Thursday, February 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). CVRx had a negative return on equity of 91.20% and a negative net margin of 94.10%.The firm had revenue of $16.02 million during the quarter, compared to analysts’ expectations of $15.75 million. As a group, sell-side analysts forecast that CVRx will post -1.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CVRX shares. Canaccord Genuity Group cut their target price on shares of CVRx from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of CVRx in a research note on Monday, December 29th. Finally, Cantor Fitzgerald upgraded shares of CVRx to a “strong-buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, CVRx presently has an average rating of “Moderate Buy” and a consensus price target of $11.20.

CVRx Company Profile

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.