Emerald Advisers LLC Grows Stake in CVRx, Inc. (NASDAQ:CVRX)

Emerald Advisers LLC boosted its position in shares of CVRx, Inc. (NASDAQ:CVRX) by 47.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 593,898 shares of the company’s stock after purchasing an additional 190,844 shares during the quarter. Emerald Advisers LLC owned approximately 2.45% of CVRx worth $7,525,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CVRX. PDT Partners LLC purchased a new stake in shares of CVRx in the 3rd quarter worth about $543,000. Centiva Capital LP purchased a new stake in shares of CVRx in the third quarter valued at about $178,000. Parkman Healthcare Partners LLC grew its position in shares of CVRx by 52.6% in the third quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock valued at $6,016,000 after purchasing an additional 235,277 shares during the last quarter. State Street Corp increased its stake in shares of CVRx by 11.4% during the 3rd quarter. State Street Corp now owns 264,733 shares of the company’s stock worth $2,332,000 after purchasing an additional 27,071 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of CVRx by 36.1% during the 3rd quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock worth $168,000 after purchasing an additional 5,053 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

CVRx Stock Performance

NASDAQ CVRX opened at $12.49 on Friday. The business’s 50-day simple moving average is $14.44 and its 200-day simple moving average is $12.66. The firm has a market capitalization of $325.19 million, a P/E ratio of -4.64 and a beta of 1.34. CVRx, Inc. has a 1-year low of $6.40 and a 1-year high of $19.85. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23.

CVRx (NASDAQ:CVRX) last released its quarterly earnings data on Tuesday, February 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. Equities analysts predict that CVRx, Inc. will post -1.91 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVRX. Canaccord Genuity Group raised their price target on CVRx from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Craig Hallum boosted their target price on shares of CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 17th. 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 note on Wednesday, February 5th. Finally, William Blair raised shares of CVRx from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.83.

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.