CVRx, Inc. (NASDAQ:CVRX) Receives Consensus Rating of “Hold” from Brokerages

CVRx, Inc. (NASDAQ:CVRX) has been assigned an average rating of “Hold” from the six analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $5.30.

A number of research firms recently commented on CVRX. Cantor Fitzgerald lowered their price target on shares of CVRx from $13.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of CVRx in a report on Monday, August 3rd. Craig Hallum cut shares of CVRx from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research report on Friday, August 7th. Wall Street Zen downgraded shares of CVRx from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Piper Sandler lowered shares of CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 target price for the company. in a report on Friday, August 7th.

Insider Buying and Selling

In other CVRx news, COO Brent Binkowski purchased 26,223 shares of the stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $2.91 per share, with a total value of $76,308.93. Following the transaction, the chief operating officer directly owned 56,514 shares of the company’s stock, valued at approximately $164,455.74. This trade represents a 86.57% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.60% of the stock is owned by insiders.

Institutional Investors Weigh In On CVRx

A number of large investors have recently made changes to their positions in CVRX. Larson Financial Group LLC increased its stake in shares of CVRx by 155.6% during the fourth quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock valued at $39,000 after buying an additional 3,303 shares during the period. Deutsche Bank AG purchased a new stake in CVRx in the second quarter worth $62,000. Virtu Financial LLC bought a new stake in CVRx in the fourth quarter valued at $79,000. Corient Private Wealth LLC bought a new stake in CVRx in the fourth quarter valued at $81,000. Finally, XTX Topco Ltd purchased a new position in CVRx during the 4th quarter valued at $90,000. 75.27% of the stock is currently owned by institutional investors.

CVRx Trading Up 0.3%

Shares of CVRX stock opened at $2.96 on Tuesday. The business has a 50-day moving average of $4.48 and a 200 day moving average of $6.06. 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 has a 1-year low of $2.20 and a 1-year high of $11.30. The stock has a market capitalization of $78.85 million, a PE ratio of -1.49 and a beta of 0.81.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.01). The company had revenue of $15.71 million during the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that CVRx will post -2 earnings per share 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.