CVRx (NASDAQ:CVRX) Given Buy Rating at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of CVRx (NASDAQ:CVRX) in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a $10.00 price target on the stock.

CVRX has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CVRx in a research note on Monday, December 29th. Cantor Fitzgerald raised shares of CVRx to a “strong-buy” rating in a research note on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.50.

CVRx Price Performance

CVRX stock opened at $7.72 on Tuesday. The company has a current ratio of 7.63, a quick ratio of 6.72 and a debt-to-equity ratio of 1.26. CVRx has a one year low of $4.30 and a one year high of $11.30. The firm has a market capitalization of $203.11 million, a PE ratio of -3.77 and a beta of 1.16. The firm has a 50-day moving average of $7.61 and a two-hundred day moving average of $8.19.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). CVRx had a negative net margin of 94.10% and a negative return on equity of 99.32%. The firm had revenue of $16.02 million for the quarter, compared to analysts’ expectations of $15.75 million. On average, analysts forecast that CVRx will post -1.91 earnings per share for the current year.

Insider Buying and Selling at CVRx

In other CVRx news, Director Mudit K. Jain bought 46,800 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were bought at an average price of $6.36 per share, for a total transaction of $297,648.00. Following the acquisition, the director directly owned 980,183 shares of the company’s stock, valued at approximately $6,233,963.88. This trade represents a 5.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CVRx

A number of large investors have recently made changes to their positions in the business. Corient Private Wealth LLC acquired a new position in shares of CVRx in the 4th quarter valued at about $81,000. Virtu Financial LLC acquired a new position in shares of CVRx in the 4th quarter valued at about $79,000. XTX Topco Ltd acquired a new position in shares of CVRx in the 4th quarter valued at about $90,000. Tudor Investment Corp ET AL increased its holdings in shares of CVRx by 24.8% in the 4th quarter. Tudor Investment Corp ET AL now owns 157,260 shares of the company’s stock valued at $1,117,000 after purchasing an additional 31,200 shares during the period. Finally, Balyasny Asset Management L.P. increased its holdings in shares of CVRx by 17.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 814,943 shares of the company’s stock valued at $5,786,000 after purchasing an additional 118,683 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

CVRx Company Profile

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.