CVRx, Inc. (NASDAQ:CVRX) Receives $19.40 Average PT from Analysts

CVRx, Inc. (NASDAQ:CVRX) has received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.60.

CVRX has been the subject of a number of research analyst reports. Lake Street Capital reduced their price target on shares of CVRx from $35.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Piper Sandler decreased their price target on CVRx from $33.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. William Blair cut CVRx from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Craig Hallum initiated coverage on CVRx in a report on Wednesday, May 1st. They issued a “buy” rating and a $23.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered CVRx from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $13.00 in a report on Wednesday, May 1st.

CVRx Stock Performance

CVRX stock opened at $9.22 on Wednesday. The company has a 50-day simple moving average of $17.85 and a 200 day simple moving average of $20.98. The company has a market capitalization of $199.06 million, a P/E ratio of -3.73 and a beta of 1.35. The company has a quick ratio of 12.86, a current ratio of 14.25 and a debt-to-equity ratio of 0.38. CVRx has a fifty-two week low of $7.77 and a fifty-two week high of $33.13.

Insider Activity

In other news, insider Paul Verrastro sold 2,545 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total transaction of $55,760.95. Following the sale, the insider now owns 2,455 shares in the company, valued at $53,789.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul Verrastro sold 2,545 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total transaction of $55,760.95. Following the transaction, the insider now directly owns 2,455 shares of the company’s stock, valued at $53,789.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Emerald Advisers LLC increased its position in CVRx by 1.3% in the 3rd quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock worth $7,601,000 after purchasing an additional 6,419 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in CVRx in the third quarter valued at approximately $7,116,000. Emerald Mutual Fund Advisers Trust grew its position in CVRx by 4.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 430,844 shares of the company’s stock worth $6,536,000 after acquiring an additional 16,808 shares in the last quarter. Parkman Healthcare Partners LLC increased its stake in shares of CVRx by 8.0% during the 4th quarter. Parkman Healthcare Partners LLC now owns 240,000 shares of the company’s stock worth $7,546,000 after purchasing an additional 17,880 shares during the last quarter. Finally, GSG Advisors LLC bought a new position in shares of CVRx during the 3rd quarter valued at $2,435,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

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.