Brent Binkowski Purchases 26,223 Shares of CVRx (NASDAQ:CVRX) Stock

CVRx, Inc. (NASDAQ:CVRX) COO Brent Binkowski acquired 26,223 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $2.91 per share, for a total transaction of $76,308.93. Following the transaction, the chief operating officer owned 56,514 shares of the company’s stock, valued at $164,455.74. This represents a 86.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brent Binkowski also recently made the following trade(s):

• On Wednesday, August 12th, Brent Binkowski sold 1,309 shares of CVRx stock. The stock was sold at an average price of $2.55, for a total transaction of $3,337.95.

CVRx Stock Up 4.8%

CVRx stock opened at $3.08 on Friday. The company has a current ratio of 8.04, a quick ratio of 6.87 and a debt-to-equity ratio of 2.94. CVRx, Inc. has a 1-year low of $2.20 and a 1-year high of $11.30. The company has a fifty day simple moving average of $4.92 and a 200 day simple moving average of $6.37. The company has a market cap of $82.05 million, a P/E ratio of -1.56 and a beta of 0.81.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.01). CVRx had a negative return on equity of 152.35% and a negative net margin of 84.93%.The business had revenue of $15.71 million for the quarter, compared to the consensus estimate of $15.55 million. Research analysts anticipate that CVRx, Inc. will post -1.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler lowered CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price target on the stock. in a research report on Friday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of CVRx in a research note on Monday, August 3rd. Lake Street Capital downgraded shares of CVRx from a “buy” rating to a “hold” rating and lowered their target price for the stock from $14.00 to $3.50 in a report on Friday, August 7th. Craig Hallum lowered shares of CVRx from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a research report on Friday, August 7th. Finally, Wall Street Zen lowered shares of CVRx from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.90.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC raised its stake in CVRx by 155.6% in 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 period. R Squared Ltd bought a new position in CVRx during the fourth quarter worth $74,000. Aaron Wealth Advisors LLC acquired a new position in shares of CVRx in the first quarter valued at $101,000. Virtu Financial LLC acquired a new position in shares of CVRx in the fourth quarter valued at $79,000. Finally, Corient Private Wealth LLC bought a new position in shares of CVRx in the fourth quarter valued at about $81,000. 75.27% of the stock is currently owned by institutional investors.

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.