Emerald Mutual Fund Advisers Trust Reduces Stock Position in CVRx, Inc. (NASDAQ:CVRX)

Emerald Mutual Fund Advisers Trust trimmed its holdings in CVRx, Inc. (NASDAQ:CVRX) by 3.9% in the second quarter, Holdings Channel reports. The institutional investor owned 370,034 shares of the company’s stock after selling 15,000 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in CVRx were worth $4,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVRX. Rhumbline Advisers boosted its holdings in shares of CVRx by 28.8% in the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after acquiring an additional 3,863 shares during the period. Valeo Financial Advisors LLC purchased a new stake in CVRx during the 1st quarter worth about $346,000. FourWorld Capital Management LLC bought a new position in CVRx in the 1st quarter worth about $374,000. Trexquant Investment LP purchased a new position in CVRx during the 4th quarter valued at about $426,000. Finally, Bank of New York Mellon Corp grew its holdings in CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after buying an additional 8,741 shares in the last quarter. Institutional investors own 75.27% of the company’s stock.

CVRx Price Performance

CVRX stock opened at $8.42 on Friday. The firm has a 50 day simple moving average of $9.36 and a two-hundred day simple moving average of $12.46. The stock has a market cap of $181.84 million, a PE ratio of -3.41 and a beta of 1.27. CVRx, Inc. has a one year low of $6.40 and a one year high of $33.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 10.08 and a quick ratio of 8.85.

CVRx (NASDAQ:CVRX) last announced its earnings results on Monday, July 29th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. The company had revenue of $11.81 million during the quarter, compared to analysts’ expectations of $11.84 million. During the same quarter last year, the firm posted ($0.56) earnings per share. On average, analysts predict that CVRx, Inc. will post -2.57 EPS for the current fiscal year.

Insider Transactions at CVRx

In other news, CEO Kevin Hykes acquired 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $8.36 per share, with a total value of $250,800.00. Following the acquisition, the chief executive officer now owns 30,000 shares in the company, valued at approximately $250,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders bought 38,500 shares of company stock worth $322,545. 18.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of CVRx from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Lake Street Capital reissued a “buy” rating and issued a $12.00 price target on shares of CVRx in a report on Monday, August 26th. Craig Hallum decreased their price target on shares of CVRx from $23.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Piper Sandler dropped their price objective on CVRx from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.60.

CVRx 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.