CVRx, Inc. (NASDAQ:CVRX) Receives $5.30 Average Target Price from Analysts

Shares of CVRx, Inc. (NASDAQ:CVRX) have been assigned an average recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.30.

Several brokerages recently weighed in on CVRX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CVRx in a report on Monday, August 3rd. Lake Street Capital downgraded shares of CVRx from a “buy” rating to a “hold” rating and dropped their price objective for the company from $14.00 to $3.50 in a research report on Friday, August 7th. 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 report on Friday, August 7th. Wall Street Zen cut shares of CVRx from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. 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.

Insider Buying and Selling at CVRx

In other CVRx news, COO Brent Binkowski bought 26,223 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $2.91 per share, with a total value of $76,308.93. Following the transaction, the chief operating officer 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 16.60% of the company’s stock.

Institutional Trading of CVRx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVRX. Alliancebernstein L.P. lifted its position in shares of CVRx by 10.7% during the 3rd quarter. Alliancebernstein L.P. now owns 17,560 shares of the company’s stock worth $142,000 after buying an additional 1,700 shares during the last quarter. Cresset Asset Management LLC grew its position in shares of CVRx by 3.5% in the 2nd quarter. Cresset Asset Management LLC now owns 53,542 shares of the company’s stock valued at $315,000 after buying an additional 1,823 shares during the last quarter. Barclays PLC raised its stake in CVRx by 9.8% during the 4th quarter. Barclays PLC now owns 25,262 shares of the company’s stock worth $179,000 after acquiring an additional 2,257 shares in the last quarter. Bank of New York Mellon Corp raised its stake in CVRx by 7.4% during the 1st quarter. Bank of New York Mellon Corp now owns 38,542 shares of the company’s stock worth $365,000 after acquiring an additional 2,649 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in CVRx by 155.6% in the fourth quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock valued at $39,000 after acquiring an additional 3,303 shares during the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

CVRx Stock Performance

CVRX opened at $3.05 on Tuesday. The business has a fifty day moving average price of $4.23 and a 200 day moving average price of $5.98. The company has a debt-to-equity ratio of 2.94, a current ratio of 8.04 and a quick ratio of 6.87. CVRx has a 12 month low of $2.20 and a 12 month high of $11.30. The stock has a market capitalization of $81.25 million, a price-to-earnings ratio of -1.54 and a beta of 0.76.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). The company 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%. Sell-side analysts expect that CVRx will post -2 earnings per share for the current fiscal year.

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.