CVRx (NASDAQ:CVRX) Coverage Initiated by Analysts at Craig Hallum

Equities research analysts at Craig Hallum assumed coverage on shares of CVRx (NASDAQ:CVRX) in a research report issued to clients and investors on Wednesday, StockNewsAPI reports. The brokerage set a “buy” rating and a $23.00 price target on the stock. Craig Hallum’s price target would suggest a potential upside of 134.45% from the company’s current price.

CVRX has been the topic of a number of other reports. Piper Sandler boosted their price target on shares of CVRx from $21.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. William Blair downgraded shares of CVRx from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. downgraded shares of CVRx from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $13.00 in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.25.

CVRx Trading Down 36.8 %

CVRx stock traded down $5.70 during trading on Wednesday, hitting $9.81. The company had a trading volume of 525,122 shares, compared to its average volume of 148,378. CVRx has a 1-year low of $7.77 and a 1-year high of $33.13. The company has a current ratio of 14.25, a quick ratio of 12.86 and a debt-to-equity ratio of 0.38. The company’s 50 day simple moving average is $18.62 and its 200-day simple moving average is $21.07. The stock has a market cap of $211.80 million, a price-to-earnings ratio of -4.49 and a beta of 1.29.

Insider Transactions at CVRx

In other news, major shareholder & Johnson Johnson sold 3,725 shares of CVRx stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other CVRx news, insider Paul Verrastro sold 2,545 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were 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 in the company, valued at approximately $53,789.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of CVRx stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, 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 insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CVRX. Emerald Advisers LLC raised its holdings in shares of CVRx by 1.3% during the 3rd quarter. Emerald Advisers LLC now owns 501,073 shares of the company’s stock valued at $7,601,000 after buying an additional 6,419 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in CVRx in the 3rd quarter worth approximately $7,116,000. Emerald Mutual Fund Advisers Trust increased its stake in CVRx by 4.1% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 430,844 shares of the company’s stock worth $6,536,000 after purchasing an additional 16,808 shares during the period. Parkman Healthcare Partners LLC increased its stake in CVRx by 8.0% in 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 period. Finally, GSG Advisors LLC purchased a new position in CVRx in the 3rd quarter worth approximately $2,435,000. Institutional investors own 75.27% of the company’s stock.

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.