CVRx (NASDAQ:CVRX) Receives “Overweight” Rating from Cantor Fitzgerald

CVRx (NASDAQ:CVRX)‘s stock had its “overweight” rating restated by analysts at Cantor Fitzgerald in a research report issued on Wednesday, Benzinga reports. They presently have a $14.00 target price on the stock. Cantor Fitzgerald’s price target points to a potential upside of 39.58% from the stock’s current price.

Several other research firms have also weighed in on CVRX. Lake Street Capital restated a “buy” rating and set a $12.00 price objective on shares of CVRx in a research report on Monday, August 26th. Piper Sandler decreased their target price on shares of CVRx from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Canaccord Genuity Group raised their target price on shares of CVRx from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Craig Hallum decreased their target price on shares of CVRx from $23.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.67.

CVRx Price Performance

Shares of NASDAQ:CVRX traded down $0.12 during trading hours on Wednesday, hitting $10.03. 70,037 shares of the company’s stock traded hands, compared to its average volume of 263,053. CVRx has a 52 week low of $6.40 and a 52 week high of $33.13. The company has a debt-to-equity ratio of 0.53, a quick ratio of 8.85 and a current ratio of 10.08. The company’s fifty day simple moving average is $8.64 and its two-hundred day simple moving average is $9.83. The company has a market cap of $216.61 million, a price-to-earnings ratio of -4.06 and a beta of 1.26.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.14). CVRx had a negative net margin of 122.52% and a negative return on equity of 77.62%. The business had revenue of $11.81 million for the quarter, compared to the consensus estimate of $11.84 million. During the same quarter last year, the business posted ($0.56) EPS. As a group, equities analysts anticipate that CVRx will post -2.56 EPS for the current fiscal year.

Insider Transactions at CVRx

In related news, CEO Kevin Hykes purchased 30,000 shares of CVRx stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $8.36 per share, with a total value of $250,800.00. Following the completion of the transaction, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $250,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 38,500 shares of company stock valued at $322,545 over the last three months. 18.90% of the stock is owned by corporate insiders.

Institutional Trading of CVRx

A number of hedge funds have recently made changes to their positions in the stock. Johnson & Johnson lifted its position in shares of CVRx by 17.4% in the first quarter. Johnson & Johnson now owns 4,103,430 shares of the company’s stock worth $74,723,000 after purchasing an additional 607,855 shares in the last quarter. Vanguard Group Inc. raised its position in CVRx by 5.6% during the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after acquiring an additional 31,720 shares in the last quarter. Silvercrest Asset Management Group LLC raised its position in CVRx by 70.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after acquiring an additional 105,198 shares in the last quarter. Squarepoint Ops LLC raised its position in CVRx by 26.3% during the second quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock valued at $1,103,000 after acquiring an additional 19,165 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in CVRx during the second quarter valued at approximately $495,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

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.