CVRx, Inc. (NASDAQ:CVRX) Sees Large Drop in Short Interest

CVRx, Inc. (NASDAQ:CVRX) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,840,000 shares, a drop of 9.8% from the January 15th total of 2,040,000 shares. Approximately 13.2% of the shares of the company are sold short. Based on an average daily trading volume, of 226,600 shares, the days-to-cover ratio is currently 8.1 days.

Analyst Ratings Changes

A number of equities analysts recently commented on CVRX shares. Piper Sandler raised their price target on shares of CVRx from $16.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 target price on shares of CVRx in a report on Wednesday, October 23rd. Craig Hallum boosted their price target on CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 17th. William Blair upgraded CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 14th. Finally, Lake Street Capital upped their target price on CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, CVRx currently has an average rating of “Moderate Buy” and an average price target of $17.83.

CVRx Price Performance

CVRX traded up $0.60 during trading on Monday, hitting $15.09. 290,136 shares of the stock traded hands, compared to its average volume of 295,083. The business has a 50 day moving average price of $14.71 and a 200 day moving average price of $12.02. The company has a market cap of $366.14 million, a price-to-earnings ratio of -5.61 and a beta of 1.30. CVRx has a twelve month low of $6.40 and a twelve month high of $23.59. The company has a debt-to-equity ratio of 0.76, a current ratio of 11.32 and a quick ratio of 10.23.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Tuesday, February 4th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative return on equity of 96.36% and a negative net margin of 116.91%. Equities research analysts forecast that CVRx will post -1.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVRx

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in CVRx in the third quarter valued at approximately $108,000. International Assets Investment Management LLC bought a new position in shares of CVRx in the 3rd quarter valued at $338,000. PDT Partners LLC acquired a new stake in shares of CVRx during the 3rd quarter valued at $543,000. Centiva Capital LP acquired a new stake in shares of CVRx during the 3rd quarter valued at $178,000. Finally, Parkman Healthcare Partners LLC grew its position in CVRx by 52.6% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock worth $6,016,000 after acquiring an additional 235,277 shares during the last quarter. 75.27% of the stock is owned by 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.