CVRx (NASDAQ:CVRX – Get Free Report) was downgraded by equities researchers at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued on Friday, MarketBeat reports. They currently have a $2.00 price objective on the stock. Canaccord Genuity Group‘s target price indicates a potential upside of 36.05% from the company’s current price.
A number of other equities analysts also recently commented on CVRX. Cantor Fitzgerald reduced their price objective 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. William Blair lowered shares of CVRx from an “outperform” rating to a “market perform” rating in a research report on Friday. Craig Hallum cut shares of CVRx from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research note on Friday, August 7th. Wall Street Zen raised shares of CVRx from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Finally, Lake Street Capital cut shares of CVRx from a “buy” rating to a “hold” rating and cut their price target for the stock from $14.00 to $3.50 in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CVRx has an average rating of “Hold” and an average price target of $3.70.
Get Our Latest Stock Analysis on CVRx
CVRx Stock Performance
Shares of NASDAQ CVRX opened at $1.47 on Friday. The business has a fifty day simple moving average of $2.13 and a 200 day simple moving average of $5.18. The company has a current ratio of 8.04, a quick ratio of 6.87 and a debt-to-equity ratio of 2.94. The firm has a market capitalization of $39.16 million, a price-to-earnings ratio of -0.74 and a beta of 0.81. CVRx has a one year low of $1.25 and a one year high of $10.63.
CVRx (NASDAQ:CVRX – Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.02). The firm had revenue of $13.83 million during the quarter, compared to the consensus estimate of $13.93 million. CVRx had a negative return on equity of 152.35% and a negative net margin of 84.93%. Sell-side analysts expect that CVRx will post -2.00 EPS for the current year.
Insider Activity
In related news, COO Brent Binkowski acquired 26,223 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was bought at an average cost of $2.91 per share, with a total value of $76,308.93. Following the completion of the acquisition, the chief operating officer owned 56,514 shares in the company, valued at $164,455.74. The trade was a 86.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 16.60% of the company’s stock.
Institutional Trading of CVRx
Large investors have recently added to or reduced their stakes in the company. Deutsche Bank AG acquired a new stake in shares of CVRx during the second quarter worth approximately $62,000. State of Alaska Department of Revenue bought a new position in shares of CVRx in the third quarter valued at approximately $87,000. Bank of America Corp DE acquired a new position in shares of CVRx in the 2nd quarter worth approximately $102,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of CVRx in the 2nd quarter worth approximately $107,000. Finally, Renaissance Technologies LLC bought a new stake in CVRx during the 1st quarter worth approximately $183,000. 75.27% of the stock is owned by institutional investors.
CVRx Company Profile
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.
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