Insider Buying: CVRx, Inc. (NASDAQ:CVRX) Director Buys 61,200 Shares of Stock

CVRx, Inc. (NASDAQ:CVRX) Director Kirk G. Nielsen purchased 61,200 shares of CVRx stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average cost of $5.23 per share, for a total transaction of $320,076.00. Following the transaction, the director now owns 1,899,168 shares in the company, valued at approximately $9,932,648.64. This trade represents a 3.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

CVRx Stock Performance

Shares of CVRx stock opened at $6.19 on Friday. The stock has a market capitalization of $161.39 million, a price-to-earnings ratio of -2.30 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23. The business has a 50-day moving average of $8.79 and a 200 day moving average of $12.46. CVRx, Inc. has a 12 month low of $4.30 and a 12 month high of $18.55.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.03. The business had revenue of $12.35 million for the quarter, compared to analysts’ expectations of $14.68 million. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. As a group, sell-side analysts forecast that CVRx, Inc. will post -1.91 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on CVRX. Piper Sandler cut their target price on CVRx from $20.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $7.00 price objective (down from $15.00) on shares of CVRx in a research report on Friday, May 9th. Craig Hallum boosted their price objective on shares of CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, January 17th. Canaccord Genuity Group lowered their target price on shares of CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Lake Street Capital dropped their price target on shares of CVRx from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Hedge Funds Weigh In On CVRx

Institutional investors have recently modified their holdings of the business. Larson Financial Group LLC acquired a new stake in shares of CVRx in the first quarter valued at $28,000. Tower Research Capital LLC TRC increased its holdings in CVRx by 43.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock worth $49,000 after purchasing an additional 1,186 shares during the period. GAMMA Investing LLC boosted its stake in shares of CVRx by 1,469.3% in the 1st quarter. GAMMA Investing LLC now owns 4,598 shares of the company’s stock valued at $56,000 after buying an additional 4,305 shares during the period. Quarry LP acquired a new position in shares of CVRx during the fourth quarter worth about $69,000. Finally, Whittier Trust Co. purchased a new stake in shares of CVRx during the first quarter worth approximately $73,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

CVRx Company Profile

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.