Insider Buying: CVRx (NASDAQ:CVRX) COO Acquires $76,308.93 in Stock

CVRx, Inc. (NASDAQ:CVRX) COO Brent Binkowski bought 26,223 shares of the stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $2.91 per share, with a total value of $76,308.93. Following the purchase, the chief operating officer owned 56,514 shares of the company’s stock, valued at $164,455.74. This trade represents a 86.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brent Binkowski also recently made the following trade(s):

• On Wednesday, August 12th, Brent Binkowski sold 1,309 shares of CVRx stock. The shares were sold at an average price of $2.55, for a total transaction of $3,337.95.

CVRx Trading Up 7.7%

CVRx stock traded up $0.21 during trading on Thursday, hitting $2.94. The company had a trading volume of 1,210,529 shares, compared to its average volume of 1,278,519. The stock has a market cap of $78.32 million, a price-to-earnings ratio of -1.48 and a beta of 0.81. The company has a current ratio of 8.04, a quick ratio of 6.87 and a debt-to-equity ratio of 2.94. CVRx, Inc. has a 1-year low of $2.20 and a 1-year high of $11.30. The company’s 50 day simple moving average is $4.96 and its 200-day simple moving average is $6.40.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. The firm had revenue of $15.71 million during the quarter, compared to analyst estimates of $15.55 million. As a group, analysts expect that CVRx, Inc. will post -1.97 EPS for the current fiscal year.

Institutional Investors Weigh In On CVRx

Several hedge funds and other institutional investors have recently bought and sold shares of CVRX. Johnson & Johnson acquired a new stake in shares of CVRx in the 2nd quarter worth about $20,687,786,000. BlackRock Inc. bought a new stake in shares of CVRx during the 2nd quarter worth $6,402,000. GSK plc acquired a new position in shares of CVRx in the 4th quarter worth $7,154,000. Royal Bank of Canada lifted its position in shares of CVRx by 6,559.3% in the 1st quarter. Royal Bank of Canada now owns 706,950 shares of the company’s stock valued at $6,688,000 after acquiring an additional 696,334 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in CVRx by 65.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 674,685 shares of the company’s stock valued at $3,967,000 after acquiring an additional 267,063 shares in the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVRX has been the topic of a number of research reports. Lake Street Capital lowered shares of CVRx from a “buy” rating to a “hold” rating and reduced their target price for the stock from $14.00 to $3.50 in a report on Friday, August 7th. Wall Street Zen lowered CVRx from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings restated a “sell (e+)” rating on shares of CVRx in a research note on Monday, August 3rd. Craig Hallum cut shares of CVRx from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a research note on Friday, August 7th. Finally, Piper Sandler downgraded CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price target for the company. in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.90.

About CVRx

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.