CVRx (NASDAQ:CVRX) Stock Price Target Lowered at Lake Street Capital

CVRx (NASDAQ:CVRX) had its price objective cut by Lake Street Capital from $3.50 to $1.50 in a research report report published on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts have also weighed in on the company. Cantor Fitzgerald decreased their price target on CVRx from $13.00 to $5.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Weiss Ratings restated a “sell (e+)” rating on shares of CVRx in a report on Friday, October 30th. William Blair lowered shares of CVRx from an “outperform” rating to a “market perform” rating in a research note on Friday. Wall Street Zen cut shares of CVRx from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Piper Sandler downgraded shares of CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 target price on the stock. in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, CVRx presently has a consensus rating of “Hold” and a consensus price target of $3.30.

CVRx Stock Performance

CVRx stock opened at $0.87 on Friday. The company has a debt-to-equity ratio of 4.24, a quick ratio of 5.71 and a current ratio of 6.80. The firm has a market cap of $23.14 million, a price-to-earnings ratio of -0.43 and a beta of 0.81. CVRx has a 1 year low of $0.77 and a 1 year high of $10.28. The firm’s 50 day moving average price is $2.08 and its two-hundred day moving average price is $5.16.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.02). The company had revenue of $13.83 million for the quarter, compared to analyst estimates of $13.93 million. CVRx had a negative net margin of 88.28% and a negative return on equity of 208.45%. On average, research analysts predict that CVRx will post -2.00 EPS for the current fiscal year.

Insider Buying and Selling at CVRx

In other CVRx news, COO Brent Binkowski purchased 26,223 shares of the stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $2.91 per share, for a total transaction of $76,308.93. Following the completion of the acquisition, the chief operating officer owned 56,514 shares of the company’s stock, valued at $164,455.74. This represents a 86.57% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On CVRx

A number of institutional investors have recently bought and sold shares of CVRX. Deutsche Bank AG purchased a new stake in shares of CVRx in the second quarter worth approximately $62,000. Renaissance Technologies LLC purchased a new position in CVRx during the first quarter valued at approximately $183,000. Bank of America Corp DE purchased a new position in CVRx during the second quarter valued at approximately $102,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in CVRx in the 2nd quarter valued at approximately $107,000. Finally, Bank of New York Mellon Corp increased its stake in CVRx by 7.4% in the 1st quarter. Bank of New York Mellon Corp now owns 38,542 shares of the company’s stock valued at $365,000 after buying an additional 2,649 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.

About CVRx

CVRx, Inc (NASDAQ: CVRX) is a medical device company focused on developing and commercializing neuromodulation therapies for patients with cardiovascular diseases. The company’s technology is designed to activate the body’s natural nervous system pathways to help regulate cardiovascular function.

CVRx’s primary product is the Barostim system, an implantable device that delivers electrical stimulation to baroreceptors located near the carotid arteries. By influencing signals between the cardiovascular system and the brain, Barostim is intended to reduce excessive sympathetic nervous system activity and improve symptoms and function in certain patients with heart failure.