Archon Capital Management LLC Sells 76,666 Shares of CVRx, Inc. $CVRX

Archon Capital Management LLC reduced its holdings in shares of CVRx, Inc. (NASDAQ:CVRX) by 30.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,000 shares of the company’s stock after selling 76,666 shares during the period. Archon Capital Management LLC owned about 0.67% of CVRx worth $1,029,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CVRX. Charles Schwab Investment Management Inc. boosted its stake in shares of CVRx by 12.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 41,905 shares of the company’s stock valued at $512,000 after purchasing an additional 4,751 shares in the last quarter. Deutsche Bank AG boosted its position in CVRx by 41.5% during the first quarter. Deutsche Bank AG now owns 10,390 shares of the company’s stock valued at $127,000 after buying an additional 3,048 shares during the period. Nuveen LLC purchased a new stake in CVRx during the first quarter valued at about $517,000. Informed Momentum Co LLC bought a new position in shares of CVRx during the first quarter valued at about $683,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of CVRx by 70.1% in the first quarter. Russell Investments Group Ltd. now owns 61,133 shares of the company’s stock worth $748,000 after buying an additional 25,194 shares during the period. 75.27% of the stock is currently owned by institutional investors.

CVRx Stock Up 1.0%

Shares of CVRx stock opened at $9.35 on Friday. CVRx, Inc. has a 1 year low of $4.30 and a 1 year high of $18.55. The firm has a market cap of $245.06 million, a price-to-earnings ratio of -4.63 and a beta of 1.29. The company has a 50-day moving average of $9.46 and a 200 day moving average of $7.92. The company has a debt-to-equity ratio of 1.03, a current ratio of 9.62 and a quick ratio of 8.60.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.01. CVRx had a negative net margin of 92.95% and a negative return on equity of 84.45%. The business had revenue of $14.69 million for the quarter, compared to analyst estimates of $14.16 million. As a group, sell-side analysts anticipate that CVRx, Inc. will post -1.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVRX has been the subject of several analyst reports. Cantor Fitzgerald increased their target price on CVRx from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Canaccord Genuity Group increased their price objective on CVRx from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of CVRx in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.17.

Insider Transactions at CVRx

In other CVRx news, major shareholder & Johnson Johnson sold 52,332 shares of CVRx stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $10.21, for a total transaction of $534,309.72. Following the completion of the transaction, the insider owned 4,051,098 shares in the company, valued at approximately $41,361,710.58. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 56,232 shares of company stock worth $573,442 in the last three months. 13.90% of the stock is currently owned by insiders.

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.