CVRx (NASDAQ:CVRX) Raised to Hold at Wall Street Zen

CVRx (NASDAQ:CVRX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts also recently commented on the stock. Cantor Fitzgerald decreased their price objective on shares of CVRx from $13.00 to $5.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Lake Street Capital cut CVRx from a “buy” rating to a “hold” rating and dropped their price target for the stock from $14.00 to $3.50 in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of CVRx in a report on Monday, August 3rd. Craig Hallum lowered shares of CVRx from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research report on Friday, August 7th. Finally, Piper Sandler lowered CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 target price on the stock. in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.30.

CVRx Price Performance

CVRx stock opened at $2.88 on Friday. CVRx has a 52-week low of $2.20 and a 52-week high of $11.30. The company has a quick ratio of 6.87, a current ratio of 8.04 and a debt-to-equity ratio of 2.94. The firm’s fifty day moving average is $4.03 and its 200 day moving average is $5.90. The company has a market cap of $76.72 million, a price-to-earnings ratio of -1.45 and a beta of 0.76.

CVRx (NASDAQ:CVRX) last posted its earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). The business had revenue of $15.71 million during the quarter, compared to the consensus estimate of $15.55 million. CVRx had a negative return on equity of 152.35% and a negative net margin of 84.93%. Sell-side analysts forecast that CVRx will post -2 EPS for the current fiscal year.

Insider Transactions at CVRx

In related news, COO Brent Binkowski acquired 26,223 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average cost of $2.91 per share, with a total value of $76,308.93. Following the completion of the purchase, the chief operating officer directly owned 56,514 shares in the company, valued at $164,455.74. The trade was a 86.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 16.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CVRx

Several institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its stake in shares of CVRx by 155.6% in the fourth quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock worth $39,000 after purchasing an additional 3,303 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of CVRx during the second quarter worth about $62,000. Virtu Financial LLC purchased a new stake in CVRx during the 4th quarter valued at approximately $79,000. Corient Private Wealth LLC purchased a new stake in CVRx in the 4th quarter worth $81,000. Finally, XTX Topco Ltd bought a new stake in CVRx in the 4th quarter worth approximately $90,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

About CVRx

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.