CVRx (NASDAQ:CVRX – Get Free Report) had its price target decreased by analysts at Lake Street Capital from $35.00 to $18.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price objective points to a potential upside of 112.26% from the company’s previous close.
Several other research analysts have also issued reports on CVRX. Craig Hallum assumed coverage on shares of CVRx in a research report on Wednesday. They issued a “buy” rating and a $23.00 target price for the company. Piper Sandler cut their price target on shares of CVRx from $33.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday. William Blair lowered shares of CVRx from an “outperform” rating to a “market perform” rating in a research report on Wednesday. JPMorgan Chase & Co. lowered shares of CVRx from an “overweight” rating to a “neutral” rating and cut their price target for the company from $36.00 to $13.00 in a research report on Wednesday. Finally, Canaccord Genuity Group cut their price target on shares of CVRx from $32.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.60.
Read Our Latest Stock Report on CVRX
CVRx Stock Down 16.2 %
Insider Transactions at CVRx
In other news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Paul Verrastro sold 2,545 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total value of $55,760.95. Following the completion of the transaction, the insider now directly owns 2,455 shares of the company’s stock, valued at $53,789.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On CVRx
Institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. bought a new position in CVRx in the fourth quarter worth about $102,000. Valeo Financial Advisors LLC bought a new position in CVRx in the first quarter worth about $346,000. Trexquant Investment LP bought a new position in CVRx in the fourth quarter worth about $426,000. Kestra Advisory Services LLC bought a new position in CVRx in the third quarter worth about $462,000. Finally, Jump Financial LLC bought a new position in CVRx in the fourth quarter worth about $499,000. 75.27% of the stock is owned by institutional investors.
CVRx Company 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.
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