Short Interest in CVRx, Inc. (NASDAQ:CVRX) Grows By 28.1%

CVRx, Inc. (NASDAQ:CVRX) was the recipient of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 1,932,071 shares, an increase of 28.1% from the February 12th total of 1,508,055 shares. Currently, 9.1% of the company’s stock are short sold. Based on an average daily volume of 589,427 shares, the days-to-cover ratio is presently 3.3 days. Based on an average daily volume of 589,427 shares, the days-to-cover ratio is presently 3.3 days. Currently, 9.1% of the company’s stock are short sold.

Insider Transactions at CVRx

In other news, Director Mudit K. Jain purchased 46,800 shares of the company’s stock in a transaction that occurred on 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 purchase, the director directly owned 980,183 shares in the company, valued at approximately $6,233,963.88. This trade represents a 5.01% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CVRX. Mount Lucas Management LP purchased a new stake in CVRx in the second quarter worth approximately $30,000. Larson Financial Group LLC grew its position in CVRx by 155.6% in the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock worth $39,000 after purchasing an additional 3,303 shares during the period. Intech Investment Management LLC purchased a new stake in CVRx during the 2nd quarter valued at $59,000. R Squared Ltd bought a new position in shares of CVRx during the 4th quarter valued at $74,000. Finally, Virtu Financial LLC bought a new position in shares of CVRx during the 4th quarter valued at $79,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CVRX shares. Cantor Fitzgerald raised shares of CVRx to a “strong-buy” rating in a report on Tuesday, February 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CVRx in a report on Monday, December 29th. Finally, Canaccord Genuity Group reduced their price target on shares of CVRx from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CVRx presently has a consensus rating of “Moderate Buy” and an average target price of $11.20.

CVRx Trading Up 4.5%

CVRx stock opened at $7.87 on Tuesday. CVRx has a one year low of $4.30 and a one year high of $13.34. The business’s fifty day moving average is $6.89 and its 200 day moving average is $8.05. The stock has a market capitalization of $207.06 million, a PE ratio of -3.84 and a beta of 1.28. The company has a debt-to-equity ratio of 1.26, a current ratio of 7.63 and a quick ratio of 6.72.

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

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.