Kevin Hykes Acquires 5,000 Shares of CVRx, Inc. (NASDAQ:CVRX) Stock

CVRx, Inc. (NASDAQ:CVRX) CEO Kevin Hykes acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $4.84 per share, with a total value of $24,200.00. Following the acquisition, the chief executive officer now owns 133,000 shares in the company, valued at $643,720. The trade was a 3.91% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

CVRx Stock Up 14.5%

CVRx stock opened at $5.44 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 10.23 and a current ratio of 12.06. CVRx, Inc. has a 52-week low of $4.30 and a 52-week high of $18.55. The firm has a 50 day moving average price of $9.01 and a two-hundred day moving average price of $12.53. The firm has a market cap of $141.75 million, a price-to-earnings ratio of -2.02 and a beta of 1.39.

CVRx (NASDAQ:CVRX) last released 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. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. The firm had revenue of $12.35 million during the quarter, compared to analyst estimates of $14.68 million. Equities analysts predict that CVRx, Inc. will post -1.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CVRX shares. Craig Hallum raised 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. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $7.00 price objective (down previously from $15.00) on shares of CVRx in a report on Friday, May 9th. William Blair upgraded shares of CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 14th. Piper Sandler dropped their price objective on shares of CVRx from $20.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Finally, Lake Street Capital dropped their price objective on shares of CVRx from $19.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Institutional Trading of CVRx

Large investors have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new stake in shares of CVRx during the 1st quarter worth approximately $28,000. Tower Research Capital LLC TRC grew its position in shares of 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 buying an additional 1,186 shares during the period. GAMMA Investing LLC grew its position in shares of CVRx by 1,469.3% during the 1st quarter. GAMMA Investing LLC now owns 4,598 shares of the company’s stock worth $56,000 after buying an additional 4,305 shares during the period. Quarry LP acquired a new stake in shares of CVRx during the 4th quarter worth approximately $69,000. Finally, Whittier Trust Co. acquired a new stake in shares of CVRx during the 1st 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.