Lake Street Capital Begins Coverage on CVRx (NASDAQ:CVRX)

Lake Street Capital started coverage on shares of CVRx (NASDAQ:CVRX – Get Rating) in a report published on Tuesday morning, The Fly reports. The brokerage issued a buy rating and a $20.00 target price on the stock.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of CVRx from $17.00 to $18.00 and gave the company an overweight rating in a report on Friday, January 27th. Piper Sandler boosted their price target on shares of CVRx from $14.00 to $18.50 in a report on Monday, January 9th.

CVRx Price Performance

Shares of NASDAQ CVRX opened at $19.40 on Tuesday. The stock has a market capitalization of $399.25 million, a P/E ratio of -9.60 and a beta of 0.47. The company has a 50-day moving average price of $15.48 and a 200-day moving average price of $11.44. CVRx has a 1 year low of $4.60 and a 1 year high of $19.94.

CVRx (NASDAQ:CVRX – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.08. The firm had revenue of $6.19 million during the quarter, compared to analysts’ expectations of $5.87 million. CVRx had a negative net margin of 184.38% and a negative return on equity of 32.52%. As a group, equities research analysts anticipate that CVRx will post -2.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Verrastro sold 4,600 shares of the business’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $11.94, for a total transaction of $54,924.00. Following the transaction, the insider now directly owns 4,400 shares in the company, valued at $52,536. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 25.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust boosted its stake in CVRx by 34.0% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 118,770 shares of the company’s stock valued at $2,179,000 after acquiring an additional 30,140 shares during the last quarter. Emerald Advisers LLC boosted its stake in CVRx by 9.5% in the fourth quarter. Emerald Advisers LLC now owns 175,421 shares of the company’s stock valued at $3,219,000 after acquiring an additional 15,225 shares during the last quarter. International Assets Investment Management LLC purchased a new position in CVRx in the fourth quarter valued at about $310,000. Quent Capital LLC purchased a new position in CVRx in the fourth quarter valued at about $138,000. Finally, Federated Hermes Inc. bought a new stake in shares of CVRx in the third quarter valued at approximately $131,000. 51.16% of the stock is currently owned by hedge funds and other institutional investors.

CVRx Company Profile

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CVRx, Inc, a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. It offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure (HF) with reduced ejection fraction or systolic HF.