CVRx, Inc. (NASDAQ:CVRX) Receives $19.40 Consensus Price Target from Brokerages

Shares of CVRx, Inc. (NASDAQ:CVRX) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $16.60.

CVRX has been the subject of several recent research reports. Lake Street Capital decreased their price objective on CVRx from $35.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Craig Hallum assumed coverage on shares of CVRx in a research report on Wednesday, May 1st. They issued a “buy” rating and a $23.00 price target for the company. JPMorgan Chase & Co. lowered shares of CVRx from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $36.00 to $13.00 in a report on Wednesday, May 1st. Piper Sandler dropped their target price on CVRx from $33.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, William Blair lowered CVRx from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st.

Insider Transactions at CVRx

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other CVRx news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Verrastro sold 2,545 shares of CVRx stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $21.91, for a total transaction of $55,760.95. Following the sale, the insider now owns 2,455 shares of the company’s stock, valued at $53,789.05. The disclosure for this sale can be found here. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Federated Hermes Inc. purchased a new position in CVRx during the 4th quarter worth approximately $102,000. Trexquant Investment LP acquired a new stake in CVRx during the fourth quarter valued at $426,000. Jump Financial LLC purchased a new position in CVRx in the fourth quarter valued at $499,000. Valeo Financial Advisors LLC purchased a new position in CVRx in the first quarter valued at $346,000. Finally, Level Four Advisory Services LLC raised its position in shares of CVRx by 6.8% in the fourth quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock worth $908,000 after acquiring an additional 1,844 shares during the period. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

CVRx Trading Up 1.6 %

CVRX opened at $8.10 on Wednesday. CVRx has a 52 week low of $7.71 and a 52 week high of $33.13. The company has a market capitalization of $174.88 million, a P/E ratio of -3.20 and a beta of 1.35. The stock’s fifty day moving average is $17.58 and its two-hundred day moving average is $20.95. The company has a quick ratio of 12.86, a current ratio of 14.25 and a debt-to-equity ratio of 0.38.

About CVRx

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.