CVRx (NASDAQ:CVRX) Price Target Cut to $15.00 by Analysts at Piper Sandler

CVRx (NASDAQ:CVRX) had its price objective lowered by Piper Sandler from $33.00 to $15.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also issued reports about the stock. Craig Hallum began coverage on shares of CVRx in a research note on Wednesday. They issued a buy rating and a $23.00 target price on the stock. William Blair downgraded CVRx from an outperform rating to a market perform rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut CVRx from an overweight rating to a neutral rating and cut their price objective for the stock from $36.00 to $13.00 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’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $16.60.

CVRx Trading Up 8.7 %

Shares of CVRX stock opened at $9.22 on Wednesday. CVRx has a 12 month low of $7.77 and a 12 month high of $33.13. The company has a market cap of $199.06 million, a PE ratio of -3.76 and a beta of 1.35. The company has a quick ratio of 12.86, a current ratio of 14.25 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $18.11 and its two-hundred day moving average is $20.90.

Insider Activity at CVRx

In related news, major shareholder & Johnson Johnson sold 3,725 shares of CVRx 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 sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Paul Verrastro sold 2,545 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $21.91, for a total transaction 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 approximately $53,789.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of CVRx 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 sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The disclosure for this sale can be found here. 18.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. acquired a new position in shares of CVRx in the 4th quarter worth approximately $102,000. Trexquant Investment LP bought a new stake in CVRx in the fourth quarter valued at $426,000. Jump Financial LLC acquired a new position in CVRx during the fourth quarter worth $499,000. Valeo Financial Advisors LLC bought a new position in shares of CVRx during the first quarter valued at $346,000. Finally, Level Four Advisory Services LLC boosted its stake in shares of CVRx by 6.8% in the 4th quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock valued at $908,000 after purchasing an additional 1,844 shares in the last quarter. Institutional investors own 75.27% of the company’s stock.

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.