Russell Investments Group Ltd. Invests $455,000 in CVRx, Inc. (NASDAQ:CVRX)

Russell Investments Group Ltd. bought a new position in shares of CVRx, Inc. (NASDAQ:CVRX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,939 shares of the company’s stock, valued at approximately $455,000. Russell Investments Group Ltd. owned approximately 0.15% of CVRx at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CVRX. JPMorgan Chase & Co. boosted its position in shares of CVRx by 10,520.1% during the 4th quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company’s stock worth $7,960,000 after purchasing an additional 622,370 shares in the last quarter. Emerald Advisers LLC boosted its holdings in CVRx by 47.3% during the fourth quarter. Emerald Advisers LLC now owns 593,898 shares of the company’s stock worth $7,525,000 after buying an additional 190,844 shares in the last quarter. Norges Bank acquired a new position in CVRx during the fourth quarter worth about $1,411,000. Trexquant Investment LP grew its position in CVRx by 292.9% during the fourth quarter. Trexquant Investment LP now owns 102,197 shares of the company’s stock worth $1,295,000 after buying an additional 76,184 shares during the period. Finally, Tradewinds LLC. purchased a new position in CVRx in the fourth quarter valued at about $695,000. 75.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

CVRx Stock Up 1.3 %

Shares of NASDAQ CVRX opened at $6.11 on Thursday. The firm’s 50 day moving average price is $10.83 and its 200 day moving average price is $12.69. The company has a debt-to-equity ratio of 0.69, a quick ratio of 10.23 and a current ratio of 12.06. The firm has a market cap of $159.08 million, a P/E ratio of -2.27 and a beta of 1.34. CVRx, Inc. has a 1 year low of $5.81 and a 1 year high of $18.55.

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

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.