CVRx (NASDAQ:CVRX) Stock Rating Lowered by Wall Street Zen

CVRx (NASDAQ:CVRX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday, Wall Street Zen reports.

CVRX has been the topic of a number of other reports. Lake Street Capital lowered CVRx from a “buy” rating to a “hold” rating and decreased their price objective for the company from $14.00 to $3.50 in a report on Friday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of CVRx in a report on Monday, August 3rd. Cantor Fitzgerald reduced their target price on shares of CVRx from $13.00 to $5.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Piper Sandler downgraded shares of CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price target on the stock. in a research note on Friday, August 7th. Finally, 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. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.30.

CVRx Trading Down 2.3%

Shares of CVRX stock opened at $2.97 on Friday. The firm has a 50 day moving average price of $3.73 and a two-hundred day moving average price of $5.69. 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 company has a market capitalization of $79.12 million, a PE ratio of -1.50 and a beta of 0.76. CVRx has a 12-month low of $2.20 and a 12-month high of $11.30.

CVRx (NASDAQ:CVRX) last posted its 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). The firm had revenue of $15.71 million during the quarter, compared to analyst estimates of $15.55 million. CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. As a group, analysts predict that CVRx will post -2 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Brent Binkowski acquired 26,223 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was purchased at an average cost of $2.91 per share, with a total value of $76,308.93. Following the acquisition, the chief operating officer directly owned 56,514 shares of the company’s stock, valued at approximately $164,455.74. The trade was a 86.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC lifted its position in CVRx by 155.6% during 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 period. Deutsche Bank AG acquired a new position in shares of CVRx in the 2nd quarter valued at approximately $62,000. Aaron Wealth Advisors LLC acquired a new position in shares of CVRx in the 1st quarter valued at approximately $101,000. Bank of America Corp DE bought a new stake in shares of CVRx during the 2nd quarter worth approximately $102,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of CVRx during the 2nd quarter worth approximately $107,000. Institutional investors own 75.27% of the company’s stock.

About CVRx

CVRx, Inc is a medical device company that develops and commercializes neuromodulation therapies for patients with cardiovascular diseases. The company’s technology is designed to use the body’s nervous system to help regulate cardiovascular function and address conditions that may not be adequately managed with conventional drug therapy.

CVRx’s primary product is Barostim, an implantable system that electrically stimulates the baroreceptors located near the carotid arteries. The therapy is intended to activate the body’s natural cardiovascular regulation mechanisms and is used primarily in eligible patients with heart failure, including certain patients with reduced ejection fraction.