Corton Capital Inc. Invests $176,000 in CVRx, Inc. $CVRX

Corton Capital Inc. purchased a new stake in CVRx, Inc. (NASDAQ:CVRX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 29,864 shares of the company’s stock, valued at approximately $176,000. Corton Capital Inc. owned approximately 0.11% of CVRx as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Larson Financial Group LLC bought a new stake in CVRx during the 1st quarter worth approximately $28,000. Whittier Trust Co. bought a new stake in shares of CVRx during the 1st quarter valued at about $73,000. AlphaQuest LLC increased its position in shares of CVRx by 725.4% in the first quarter. AlphaQuest LLC now owns 6,108 shares of the company’s stock worth $75,000 after purchasing an additional 5,368 shares during the last quarter. Deutsche Bank AG raised its stake in CVRx by 41.5% in the first quarter. Deutsche Bank AG now owns 10,390 shares of the company’s stock valued at $127,000 after purchasing an additional 3,048 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in CVRx by 13.0% in the first quarter. Rhumbline Advisers now owns 19,018 shares of the company’s stock valued at $233,000 after purchasing an additional 2,192 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

CVRx Price Performance

CVRX stock opened at $9.99 on Wednesday. CVRx, Inc. has a 1 year low of $4.30 and a 1 year high of $18.55. The company has a market cap of $261.26 million, a P/E ratio of -4.76 and a beta of 1.28. The firm has a 50-day moving average of $8.61 and a 200 day moving average of $7.49. The company has a debt-to-equity ratio of 0.85, a current ratio of 11.99 and a quick ratio of 10.78.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.05). CVRx had a negative net margin of 95.61% and a negative return on equity of 79.31%. The firm had revenue of $13.59 million for the quarter, compared to the consensus estimate of $13.22 million. On average, sell-side analysts forecast that CVRx, Inc. will post -1.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of CVRx in a research report on Thursday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of CVRx in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

CVRx Company 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.