Insider Buying: CVRx (NASDAQ:CVRX) COO Buys $76,308.93 in Stock

CVRx, Inc. (NASDAQ:CVRX) COO Brent Binkowski bought 26,223 shares of CVRx stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $2.91 per share, with a total value of $76,308.93. Following the acquisition, the chief operating officer directly owned 56,514 shares of the company’s stock, valued at approximately $164,455.74. The trade was a 86.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Brent Binkowski also recently made the following trade(s):

• On Wednesday, August 12th, Brent Binkowski sold 1,309 shares of CVRx stock. The stock was sold at an average price of $2.55, for a total value of $3,337.95.

CVRx Stock Performance

Shares of NASDAQ:CVRX opened at $3.08 on Friday. The company has a debt-to-equity ratio of 2.94, a current ratio of 8.04 and a quick ratio of 6.87. CVRx, Inc. has a 1 year low of $2.20 and a 1 year high of $11.30. The firm has a market capitalization of $82.05 million, a PE ratio of -1.56 and a beta of 0.81. The business’s 50 day moving average price is $4.92 and its 200-day moving average price is $6.37.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.01). The firm had revenue of $15.71 million during the quarter, compared to analyst estimates of $15.55 million. CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. As a group, equities research analysts expect that CVRx, Inc. will post -1.97 earnings per share for the current fiscal year.

Institutional Trading of CVRx

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of CVRx in the 2nd quarter worth $6,402,000. Deutsche Bank AG acquired a new position in shares of CVRx during the 2nd quarter valued at about $62,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of CVRx in the second quarter valued at about $107,000. Bank of New York Mellon Corp purchased a new stake in shares of CVRx in the second quarter valued at about $199,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of CVRx in the second quarter valued at about $259,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVRX has been the subject of a number of recent research reports. Craig Hallum cut shares of CVRx from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Friday, August 7th. Wall Street Zen lowered shares of CVRx from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CVRx in a research note on Monday, August 3rd. Lake Street Capital downgraded shares of CVRx from a “buy” rating to a “hold” rating and cut their price objective for the company from $14.00 to $3.50 in a report on Friday, August 7th. Finally, Piper Sandler lowered shares of CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 target price on the stock. in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.90.

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.