47,120 Shares in CVRx, Inc. (NASDAQ:CVRX) Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets purchased a new stake in CVRx, Inc. (NASDAQ:CVRX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 47,120 shares of the company’s stock, valued at approximately $597,000. BNP Paribas Financial Markets owned approximately 0.19% of CVRx at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in CVRx by 10,520.1% during the fourth 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% in the 4th quarter. Emerald Advisers LLC now owns 593,898 shares of the company’s stock valued at $7,525,000 after purchasing an additional 190,844 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of CVRx by 28.8% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 370,813 shares of the company’s stock worth $4,698,000 after acquiring an additional 82,978 shares in the last quarter. Geode Capital Management LLC raised its position in shares of CVRx by 9.8% during the 4th quarter. Geode Capital Management LLC now owns 323,931 shares of the company’s stock worth $4,105,000 after purchasing an additional 28,807 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in CVRx by 4.3% in the 4th quarter. Northern Trust Corp now owns 138,883 shares of the company’s stock valued at $1,760,000 after acquiring an additional 5,671 shares during the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

CVRx Price Performance

NASDAQ CVRX opened at $6.67 on Friday. CVRx, Inc. has a 52 week low of $4.30 and a 52 week high of $18.55. The company has a current ratio of 12.06, a quick ratio of 10.23 and a debt-to-equity ratio of 0.69. The stock has a market cap of $173.91 million, a price-to-earnings ratio of -2.48 and a beta of 1.39. The company has a 50-day moving average price of $8.20 and a two-hundred day moving average price of $12.17.

CVRx (NASDAQ:CVRX) last posted its earnings results on Thursday, May 8th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.03. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. The firm had revenue of $12.35 million during the quarter, compared to analysts’ expectations of $14.68 million. Analysts forecast that CVRx, Inc. will post -1.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CVRX shares. Piper Sandler decreased their price target on shares of CVRx from $20.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Canaccord Genuity Group decreased their price target on shares of CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $7.00 price target (down from $15.00) on shares of CVRx in a research report on Friday, May 9th. Finally, Lake Street Capital cut their target price on shares of CVRx from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, CVRx currently has an average rating of “Moderate Buy” and an average target price of $14.50.

Insider Activity

In related news, Director Kirk G. Nielsen acquired 10,966 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was acquired at an average cost of $5.45 per share, for a total transaction of $59,764.70. Following the completion of the acquisition, the director now directly owns 1,910,134 shares of the company’s stock, valued at approximately $10,410,230.30. The trade was a 0.58% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased 78,666 shares of company stock worth $411,031 over the last three months. Corporate insiders own 13.90% of the company’s stock.

CVRx 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.