CVRx (NASDAQ:CVRX – Get Free Report) had its price target cut by analysts at Cantor Fitzgerald from $13.00 to $5.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 62.34% from the company’s previous close.
CVRX has been the subject of a number of other research reports. Lake Street Capital cut CVRx from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $14.00 to $3.50 in a report on Friday, August 7th. Piper Sandler downgraded CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 price target for the company. in a research note on Friday, August 7th. Craig Hallum cut 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 CVRx from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of CVRx in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.30.
Check Out Our Latest Stock Analysis on CVRx
CVRx Price Performance
CVRx (NASDAQ:CVRX – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. The business had revenue of $15.71 million during the quarter, compared to analyst estimates of $15.55 million. On average, analysts predict that CVRx will post -1.97 EPS for the current year.
Insider Buying and Selling at CVRx
In related news, COO Brent Binkowski bought 26,223 shares of CVRx stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $2.91 per share, with a total value of $76,308.93. Following the acquisition, the chief operating officer owned 56,514 shares in the company, valued at $164,455.74. This trade represents a 86.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 16.60% of the company’s stock.
Institutional Investors Weigh In On CVRx
A number of large investors have recently bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in shares of CVRx by 155.6% during the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock worth $39,000 after acquiring an additional 3,303 shares during the period. Deutsche Bank AG acquired a new stake in shares of CVRx in the 2nd quarter valued at $62,000. R Squared Ltd bought a new position in shares of CVRx in the 4th quarter valued at $74,000. Virtu Financial LLC bought a new position in shares of CVRx in the 4th quarter valued at $79,000. Finally, Corient Private Wealth LLC acquired a new position in shares of CVRx during the 4th quarter worth $81,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.
About CVRx
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.
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