Mudit Jain Acquires 46,800 Shares of CVRx (NASDAQ:CVRX) Stock

CVRx, Inc. (NASDAQ:CVRX) Director Mudit Jain purchased 46,800 shares of the company’s stock in a transaction on Friday, February 20th. The shares were purchased at an average price of $6.36 per share, for a total transaction of $297,648.00. Following the purchase, the director owned 980,183 shares in the company, valued at approximately $6,233,963.88. The trade was a 5.01% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

CVRx Price Performance

Shares of NASDAQ CVRX opened at $7.24 on Wednesday. The company has a quick ratio of 6.72, a current ratio of 7.63 and a debt-to-equity ratio of 1.26. CVRx, Inc. has a 52 week low of $4.30 and a 52 week high of $14.04. The business’s 50 day moving average price is $6.78 and its 200 day moving average price is $8.00. The firm has a market cap of $190.48 million, a P/E ratio of -3.53 and a beta of 1.31.

CVRx (NASDAQ:CVRX) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate 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 business had revenue of $16.02 million during the quarter, compared to analysts’ expectations of $15.75 million. On average, sell-side analysts expect that CVRx, Inc. will post -1.91 earnings per share for the current year.

Wall Street Analyst Weigh In

CVRX has been the topic of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of CVRx in a research report on Monday, December 29th. Canaccord Genuity Group decreased their price objective on shares of CVRx from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Finally, Cantor Fitzgerald upgraded CVRx to a “strong-buy” rating in a report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, CVRx currently has a consensus rating of “Moderate Buy” and an average target price of $11.20.

Institutional Trading of CVRx

A number of hedge funds have recently bought and sold shares of the business. AlphaQuest LLC boosted its position in shares of CVRx by 114.6% during 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 last quarter. Corton Capital Inc. purchased a new position in CVRx during the second quarter worth about $176,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in CVRx by 120.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,032 shares of the company’s stock valued at $171,000 after purchasing an additional 15,837 shares during the last quarter. FourWorld Capital Management LLC grew its stake in shares of CVRx by 563.7% in the 2nd quarter. FourWorld Capital Management LLC now owns 124,123 shares of the company’s stock valued at $730,000 after buying an additional 105,422 shares during the period. Finally, Barclays PLC increased its holdings in shares of CVRx by 9.8% during the 4th quarter. Barclays PLC now owns 25,262 shares of the company’s stock worth $179,000 after buying an additional 2,257 shares during the last quarter. 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.