CVRx (NASDAQ:CVRX) Given New $18.00 Price Target at Lake Street Capital

CVRx (NASDAQ:CVRX) had its price objective reduced by Lake Street Capital from $35.00 to $18.00 in a research note issued to investors on Wednesday, Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on CVRX. William Blair downgraded shares of CVRx from an outperform rating to a market perform rating in a research report on Wednesday. Canaccord Genuity Group dropped their price target on shares of CVRx from $32.00 to $14.00 and set a buy rating on the stock in a research report on Wednesday. Craig Hallum initiated coverage on shares of CVRx in a research report on Wednesday. They issued a buy rating and a $23.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of CVRx from an overweight rating to a neutral rating and dropped their price target for the stock from $36.00 to $13.00 in a research report on Wednesday. Finally, Piper Sandler dropped their target price on shares of CVRx from $33.00 to $15.00 and set an overweight rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $16.60.

CVRx Stock Down 34.8 %

NASDAQ:CVRX opened at $10.12 on Wednesday. The company has a market cap of $218.54 million, a PE ratio of -5.11 and a beta of 1.29. CVRx has a one year low of $7.77 and a one year high of $33.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 14.25 and a quick ratio of 12.86. The firm’s 50 day simple moving average is $18.62 and its 200 day simple moving average is $21.07.

Insider Activity at CVRx

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

Institutional Trading of CVRx

Hedge funds and other institutional investors have recently bought and sold shares of the business. Level Four Advisory Services LLC grew its stake in shares of CVRx by 6.8% in the 4th quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock worth $908,000 after acquiring an additional 1,844 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of CVRx in the 4th quarter worth $102,000. Emerald Advisers LLC grew its stake in shares of 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 acquiring an additional 6,419 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of CVRx in the 4th quarter worth $426,000. Finally, Jump Financial LLC bought a new stake in shares of CVRx in the 4th quarter worth $499,000. Institutional investors own 75.27% of the company’s stock.

CVRx Company Profile

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.