CVRx, Inc. (NASDAQ:CVRX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of CVRx, Inc. (NASDAQ:CVRX) have earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $11.20.

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of CVRx in a report on Monday, December 29th. 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 report on Friday, February 13th. Finally, Cantor Fitzgerald upgraded shares of CVRx to a “strong-buy” rating in a research report on Tuesday, February 17th.

CVRx Stock Down 1.4%

CVRX stock opened at $8.25 on Friday. CVRx has a fifty-two week low of $4.30 and a fifty-two week high of $13.34. The business’s 50-day moving average is $6.84 and its two-hundred day moving average is $8.04. The company has a debt-to-equity ratio of 1.26, a quick ratio of 6.72 and a current ratio of 7.63. The company has a market cap of $217.06 million, a price-to-earnings ratio of -4.02 and a beta of 1.28.

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

Insider Activity at CVRx

In related news, Director Mudit K. Jain bought 46,800 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average cost of $6.36 per share, with a total value of $297,648.00. Following the acquisition, the director owned 980,183 shares in the company, valued at $6,233,963.88. This trade represents a 5.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.90% of the stock is owned by company insiders.

Institutional Trading of CVRx

Several hedge funds have recently bought and sold shares of the stock. GSK plc purchased a new stake in CVRx in the fourth quarter worth about $7,154,000. Balyasny Asset Management L.P. raised its stake in shares of CVRx by 65.5% in the second quarter. Balyasny Asset Management L.P. now owns 674,685 shares of the company’s stock worth $3,967,000 after buying an additional 267,063 shares during the period. Marshall Wace LLP lifted its position in shares of CVRx by 238.1% during the 2nd quarter. Marshall Wace LLP now owns 350,080 shares of the company’s stock valued at $2,058,000 after buying an additional 246,548 shares in the last quarter. Jane Street Group LLC grew its stake in shares of CVRx by 162.9% during the 4th quarter. Jane Street Group LLC now owns 225,349 shares of the company’s stock valued at $1,600,000 after acquiring an additional 139,643 shares during the period. Finally, FourWorld Capital Management LLC grew its stake in shares of CVRx by 563.7% during the 2nd quarter. FourWorld Capital Management LLC now owns 124,123 shares of the company’s stock valued at $730,000 after acquiring an additional 105,422 shares during the period. Institutional investors own 75.27% of the company’s stock.

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.