CVRx, Inc. (NASDAQ:CVRX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of CVRx, Inc. (NASDAQ:CVRX) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $14.50.

A number of brokerages have commented on CVRX. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $7.00 price target (down from $15.00) on shares of CVRx in a research report on Friday, May 9th. Piper Sandler reduced their price target on CVRx from $20.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Canaccord Genuity Group reduced their price objective on CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Lake Street Capital lowered their price objective on CVRx from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th.

Insiders Place Their Bets

In related news, Director Kirk G. Nielsen bought 10,966 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were bought at an average price of $5.45 per share, for a total transaction of $59,764.70. Following the completion of the purchase, the director now directly owns 1,910,134 shares of the company’s stock, valued at approximately $10,410,230.30. This trade represents a 0.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired a total of 78,666 shares of company stock worth $411,031 over the last quarter. Company insiders own 13.90% of the company’s stock.

Hedge Funds Weigh In On CVRx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC acquired a new stake in shares of CVRx during the first quarter worth about $28,000. Tower Research Capital LLC TRC increased its position in CVRx by 43.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock worth $49,000 after purchasing an additional 1,186 shares during the last quarter. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 4,305 shares during the last quarter. Quarry LP acquired a new stake in CVRx in the 4th quarter valued at approximately $69,000. Finally, Whittier Trust Co. acquired a new position in shares of CVRx in the first quarter valued at approximately $73,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

CVRx Stock Up 1.4%

Shares of NASDAQ CVRX opened at $6.61 on Thursday. CVRx has a 12 month low of $4.30 and a 12 month high of $18.55. 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 firm has a market capitalization of $172.34 million, a price-to-earnings ratio of -2.46 and a beta of 1.30. The business has a 50-day moving average of $6.69 and a 200-day moving average of $11.45.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.03. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. The business had revenue of $12.35 million for the quarter, compared to analysts’ expectations of $14.68 million. Sell-side analysts expect that CVRx will post -1.91 earnings per share for the current fiscal 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.