CVRx, Inc. (NASDAQ:CVRX) Given Average Rating of “Hold” by Analysts

Shares of CVRx, Inc. (NASDAQ:CVRX) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $5.30.

CVRX has been the topic of a number of recent research reports. Lake Street Capital lowered shares of CVRx from a “buy” rating to a “hold” rating and dropped their price objective for the company from $14.00 to $3.50 in a research note on Friday, August 7th. Wall Street Zen downgraded shares of CVRx from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Piper Sandler lowered shares of CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price target on the stock. in a research report on Friday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of CVRx in a report on Monday, August 3rd. Finally, Cantor Fitzgerald reduced their price objective on shares of CVRx from $13.00 to $5.00 and set an “overweight” rating for the company in a research report on Monday, August 17th.

CVRx Price Performance

Shares of NASDAQ CVRX opened at $2.96 on Tuesday. The stock has a market capitalization of $78.85 million, a PE ratio of -1.49 and a beta of 0.81. The company has a debt-to-equity ratio of 2.94, a current ratio of 8.04 and a quick ratio of 6.87. CVRx has a fifty-two week low of $2.20 and a fifty-two week high of $11.30. The business has a fifty day moving average price of $4.48 and a two-hundred day moving average price of $6.06.

CVRx (NASDAQ:CVRX) last released its earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). The business had revenue of $15.71 million during the quarter, compared to the consensus estimate of $15.55 million. CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. As a group, equities analysts predict that CVRx will post -2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Brent Binkowski purchased 26,223 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of $2.91 per share, with a total value of $76,308.93. Following the completion of the acquisition, the chief operating officer directly owned 56,514 shares of the company’s stock, valued at approximately $164,455.74. The trade was a 86.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 16.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CVRx

A number of hedge funds and other institutional investors have recently bought and sold shares of CVRX. Larson Financial Group LLC raised its holdings in shares of CVRx by 155.6% during the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock valued at $39,000 after buying an additional 3,303 shares in the last quarter. Aaron Wealth Advisors LLC purchased a new stake in CVRx in the first quarter worth approximately $101,000. Virtu Financial LLC purchased a new stake in CVRx in the fourth quarter worth approximately $79,000. Corient Private Wealth LLC bought a new position in CVRx during the fourth quarter valued at approximately $81,000. Finally, Deutsche Bank AG bought a new position in CVRx during the second quarter valued at approximately $62,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

CVRx Company Profile

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.