CVRx (NASDAQ:CVRX) Research Coverage Started at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald began coverage on shares of CVRx (NASDAQ:CVRX) in a research note issued on Tuesday, Briefing.com reports. The firm set an “overweight” rating and a $14.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 75.88% from the company’s previous close.

Several other equities analysts have also weighed in on CVRX. Piper Sandler reduced their price objective on CVRx from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Craig Hallum cut their price target on CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Canaccord Genuity Group boosted their price objective on CVRx from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $12.00 price objective on shares of CVRx in a report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.67.

CVRx Trading Down 5.5 %

Shares of CVRx stock opened at $7.96 on Tuesday. The firm has a market cap of $173.45 million, a PE ratio of -3.22 and a beta of 1.27. CVRx has a 1 year low of $6.40 and a 1 year high of $33.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 10.08 and a quick ratio of 8.85. The stock has a fifty day moving average price of $9.28 and a 200-day moving average price of $12.29.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.14). CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. The company had revenue of $11.81 million during the quarter, compared to the consensus estimate of $11.84 million. During the same period in the prior year, the firm posted ($0.56) EPS. Equities research analysts anticipate that CVRx will post -2.57 EPS for the current year.

Insider Activity at CVRx

In other CVRx news, CEO Kevin Hykes acquired 30,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $8.36 per share, for a total transaction of $250,800.00. Following the completion of the transaction, the chief executive officer now owns 30,000 shares of the company’s stock, valued at approximately $250,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders bought 38,500 shares of company stock valued at $322,545. Corporate insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On CVRx

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Level Four Advisory Services LLC increased its stake in CVRx by 6.8% in the fourth quarter. Level Four Advisory Services LLC now owns 28,885 shares of the company’s stock valued at $908,000 after acquiring an additional 1,844 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of CVRx by 28.8% during the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock valued at $207,000 after buying an additional 3,863 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after buying an additional 8,741 shares in the last quarter. Trexquant Investment LP bought a new stake in CVRx in the 4th quarter worth approximately $426,000. Finally, Jump Financial LLC purchased a new stake in CVRx in the fourth quarter worth approximately $499,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.