CVRx, Inc. (NASDAQ:CVRX) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its position in shares of CVRx, Inc. (NASDAQ:CVRX) by 18.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,760 shares of the company’s stock after selling 3,910 shares during the period. Alliancebernstein L.P. owned about 0.07% of CVRx worth $212,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CVRX. Bank of New York Mellon Corp grew its stake in shares of CVRx by 4.5% during the fourth quarter. Bank of New York Mellon Corp now owns 30,377 shares of the company’s stock worth $385,000 after purchasing an additional 1,296 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of CVRx by 36.1% in the 3rd quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock valued at $168,000 after acquiring an additional 5,053 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CVRx by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 295,124 shares of the company’s stock worth $2,600,000 after acquiring an additional 6,443 shares in the last quarter. Calamos Advisors LLC purchased a new stake in CVRx during the fourth quarter worth approximately $134,000. Finally, Barclays PLC boosted its holdings in CVRx by 312.5% in the third quarter. Barclays PLC now owns 19,067 shares of the company’s stock valued at $169,000 after purchasing an additional 14,445 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

CVRx Price Performance

Shares of NASDAQ CVRX opened at $6.06 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23. The company has a market cap of $157.78 million, a PE ratio of -2.25 and a beta of 1.34. The stock has a fifty day moving average price of $11.18 and a 200 day moving average price of $12.78. CVRx, Inc. has a 1-year low of $5.87 and a 1-year high of $18.55.

CVRx (NASDAQ:CVRX) last issued its earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. Sell-side analysts forecast that CVRx, Inc. will post -1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Lake Street Capital reduced their price objective on shares of CVRx from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Canaccord Genuity Group cut their target price on CVRx from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Piper Sandler raised their price target on CVRx from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. William Blair upgraded CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 14th. Finally, Craig Hallum raised their target price on shares of CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, CVRx presently has an average rating of “Moderate Buy” and a consensus price target of $16.83.

About CVRx

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.