Short Interest in CVRx, Inc. (NASDAQ:CVRX) Increases By 23.4%

CVRx, Inc. (NASDAQ:CVRX) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 1,642,563 shares, a growth of 23.4% from the January 15th total of 1,331,161 shares. Approximately 7.7% of the company’s stock are short sold. Based on an average daily trading volume, of 482,241 shares, the days-to-cover ratio is presently 3.4 days. Based on an average daily trading volume, of 482,241 shares, the days-to-cover ratio is presently 3.4 days. Approximately 7.7% of the company’s stock are short sold.

Institutional Investors Weigh In On CVRx

A number of institutional investors and hedge funds have recently made changes to their positions in CVRX. Mount Lucas Management LP bought a new position in shares of CVRx in the second quarter valued at $30,000. Larson Financial Group LLC raised its position in CVRx by 155.6% during the fourth quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock worth $39,000 after acquiring an additional 3,303 shares in the last quarter. Intech Investment Management LLC acquired a new stake in CVRx in the second quarter valued at $59,000. R Squared Ltd bought a new position in shares of CVRx in the 4th quarter valued at about $74,000. Finally, AlphaQuest LLC grew its position in shares of CVRx by 114.6% in the 2nd quarter. AlphaQuest LLC now owns 13,106 shares of the company’s stock valued at $77,000 after acquiring an additional 6,998 shares during the period. Institutional investors own 75.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group reduced their target price on shares of CVRx from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday. Cantor Fitzgerald boosted their price target on CVRx from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CVRx in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.20.

CVRx Trading Down 13.0%

Shares of NASDAQ:CVRX opened at $4.95 on Tuesday. The company’s 50-day moving average price is $7.08 and its two-hundred day moving average price is $8.06. CVRx has a one year low of $4.30 and a one year high of $15.41. The company has a debt-to-equity ratio of 1.03, a current ratio of 9.62 and a quick ratio of 8.60. The stock has a market capitalization of $129.74 million, a PE ratio of -2.41 and a beta of 1.31.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). The company had revenue of $16.02 million during the quarter, compared to the consensus estimate of $15.75 million. CVRx had a negative net margin of 94.10% and a negative return on equity of 91.20%. On average, equities analysts forecast that CVRx will post -1.91 EPS for the current fiscal year.

About CVRx

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.