CVRx (NASDAQ:CVRX) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of CVRx (NASDAQ:CVRX) from a hold rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

CVRX has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CVRx in a research note on Friday, October 30th. Cantor Fitzgerald reduced their price objective on CVRx from $13.00 to $5.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Lake Street Capital lowered CVRx from a “buy” rating to a “hold” rating and decreased their price objective for the company from $14.00 to $3.50 in a report on Friday, August 7th. William Blair lowered CVRx from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Piper Sandler cut shares of CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 target price on the stock. in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CVRx has an average rating of “Hold” and an average target price of $3.30.

CVRx Trading Down 10.1%

CVRX stock opened at $0.78 on Friday. CVRx has a 12-month low of $0.72 and a 12-month high of $10.28. The business’s 50-day moving average is $2.04 and its 200 day moving average is $5.13. The company has a current ratio of 8.04, a quick ratio of 6.87 and a debt-to-equity ratio of 2.94. The stock has a market cap of $20.80 million, a price-to-earnings ratio of -0.39 and a beta of 0.81.

CVRx (NASDAQ:CVRX) last announced its earnings results on Thursday, November 5th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.02). The firm had revenue of $13.83 million for the quarter, compared to analyst estimates of $13.93 million. CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. On average, sell-side analysts anticipate that CVRx will post -2.00 EPS for the current fiscal year.

Insider Buying and Selling

In other CVRx news, COO Brent Binkowski bought 26,223 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were acquired at an average cost of $2.91 per share, with a total value of $76,308.93. Following the purchase, the chief operating officer directly owned 56,514 shares of the company’s stock, valued at $164,455.74. This trade represents a 86.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On CVRx

A number of large investors have recently made changes to their positions in CVRX. Deutsche Bank AG acquired a new stake in shares of CVRx in the second quarter valued at approximately $62,000. State of Alaska Department of Revenue acquired a new position in CVRx during the third quarter worth $87,000. Bank of America Corp DE acquired a new position in CVRx during the second quarter worth $102,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in CVRx during the second quarter worth $107,000. Finally, Russell Investments Group Ltd. grew its holdings in CVRx by 2,137.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 100,937 shares of the company’s stock valued at $177,000 after buying an additional 96,426 shares in the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

CVRx Company Profile

CVRx, Inc (NASDAQ: CVRX) is a medical device company focused on developing and commercializing neuromodulation therapies for patients with cardiovascular diseases. The company’s technology is designed to activate the body’s natural nervous system pathways to help regulate cardiovascular function.

CVRx’s primary product is the Barostim system, an implantable device that delivers electrical stimulation to baroreceptors located near the carotid arteries. By influencing signals between the cardiovascular system and the brain, Barostim is intended to reduce excessive sympathetic nervous system activity and improve symptoms and function in certain patients with heart failure.